R&D leasing market slows leading into 2020

  • San Francisco Peninsula R&D market decelerated in Q1 2020 as total leasing was down 68.3% from Q4 2019, and the market wide availability rate rose by 80 basis points (bps) from 6.4% to 7.2%.
  • However the market wide vacancy rate went down by 40 bps from 3.6% in Q4 2019 to 3.2% in Q1 2020, driven by recently demolished properties.