Marin County Office Report
Net absorption in the third quarter of 2025 was a positive 55,141 square feet. This was driven by small deals done in Central Marin and Novato. In Northern San Rafael, Kaiser Foundation Health Plan renewed its lease of 27,200 square feet at 111 Smith Ranch Road. Kaiser has leased the entirety of the building since 2006. The building is now for sale for $9.748 million, or $358 per square foot. Average weighted full service asking rates across Marin County increased over the last quarter by 30 basis points to $3.46 per square foot. Hybrid work trends continued to inspire downsizing into quality buildings.
Download Marin County Office Market Report 3Q25