Commercial Real Estate Report - San Francisco, CA [Retail]

Property Type

There is so little desirable space left in the West Bay retail market that net absorption is stymied, and rents are already so high that there is little room to raise them. The fourth quarter community-neighborhood shopping center vacancy rate isunchanged during the year but down 20 basis points from the previous quarter, according to Reis. Despite the unrequited demand for space and low vacancy, the average effective rent for community-neighborhood space fell slightly for the fourth consecutive year in 2012. In 2012 the average asking rent edged up 0.4% while the average effective rent decreased 0.3%. Rents fell 0.2% and 0.3%, respectively, in the fourth quarter. (3/8/13)

Boundaries

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Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

San Francisco, CA - Entire Metro
Submarkets
Marin - N -40 bps  
Marin - NC -30 bps  
Marin - C -10 bps  
San Mateo - C 0 bps  
San Mateo - N 10 bps  
San Mateo - NC 10 bps  
 
 
 
 

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 4.2% 6.2% 6.1% 8.3%
Median 4.2% 6.4% 7.7% 7.4%
12 Month Rolling 6.2% 6.2% 6.8% 7.8%

Commercial Real Estate News

Recent Rent Observations

Location ID Class Rent
San Mateo 97011 $33
San Mateo 36268 $30
San Mateo 36387 $31
San Mateo 86576 $9
San Mateo 08869 $30
San Mateo 36264 $18
Marin 36586 $42
San Mateo 71422 $47
Marin 36193 $23
San Mateo 97018 $25

Change From Previous Quarter

Market Rent Vac Inv
San Francisco -0.1% 0 bps 0.0%
West Region 0.0% 0 bps 0.0%
United States 0.1% 0 bps 0.0%

Metro vs. Region -0.1% 0 bps 0.0%
Metro vs. US -0.2% 0 bps 0.0%

Latest New Construction Updates

Location Size
San Mateo 0 - 130,000
N/A 130,000 - 240,000
N/A 240,000 - 350,000
San Mateo 0 - 130,000
San Mateo 0 - 130,000
San Mateo 0 - 130,000
San Mateo 0 - 130,000
San Mateo 130,000 - 240,000
N/A 0 - 130,000
N/A 0 - 130,000
View all Construction Projects

National Retail Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Retail Rankings (Q1 2013)

Based on 190 U.S. Markets
Value:
1. San Francisco, CA 3.6%
2. Fairfield County, CT 4.0%
3. Long Island, NY 5.5%
4. Northern New Jersey, NJ 5.5%
5. Orange County, CA 5.5%
6. San Jose, CA 5.9%
7. Los Angeles, CA 6.1%
8. Honolulu, HI 6.2%
9. San Diego, CA 6.4%
10. Oakland-East Bay, CA 6.5%
11. Boston, MA 6.6%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
San Francisco 0.2% 337 bps 1.0%
West Region 0.3% 937 bps 0.6%
United States 0.3% 1,077 bps 0.7%

Metro vs. Region -0.0% -600 bps 0.4%
Metro vs. US -0.1% -740 bps 0.3%