Marin County Market Reports
|Direct Asking Rent (Price/SF)|| $3.55|
|Availability Rate (%)|| 19.0%|
|Net Absorption (SF)|| -140,178|
Overall vacancy increased by 170 basis points to 19.0%, a 490-basis-point year-over-year change. Class A vacancy increased by 150 basis points to 21.7%, a 530-basis-point year-over-year change. The increase in available space was due to a new block of 41K square feet added at Hamilton Landing, and 25K square feet added at Belvedere Place. Additionally, PFI added several small spaces throughout the market this quarter. As a result, net absorption was negative 140,178 square feet; the greatest amount of negative absorption in a single quarter since the beginning of the pandemic. Availability increased 190 basis points to 19.5%. The amount of sublease space on the market remained relatively unchanged, and it dropped by fewer than 4,000 square feet.
Download Marin County Office Market Report 1Q21