Marin County Office Report
The Marin County office vacancy rate increased by 10 basis points to 19.2% in the second quarter of 2023, in part due to the removal of two buildings from the office inventory, 2401 Kerner Blvd and 3301 Kerner Blvd, which are slated to be redeveloped into alternative commercial uses. Asking rates across Marin County have remained constant over the course of 2023 and are not expected to change. Tenants are expected to continue being drawn to well improved high-end buildings, with the Class A vacancy rate decreasing by 20 basis points to 21.8% in the third quarter of 2023. Hybrid work trends continue to inspire downsizing into quality buildings, allowing employers to better incentivize workers to return to the office.
Download Marin County Office Market Report 3Q23