• Asking rates hold firm despite sharp vacancy growth
  • In response to COVID-19, the San Francisco Peninsula office market posted large negative net absorption numbers for the second consecutive quarter, bringing year-to-date occupancy losses to 1.1 million sq. ft. Q3 2020 experienced 573,900 sq. ft. of negative net absorption, which pushed vacancy up from 7.7% to 10.2%, quarter over quarter.