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2021 Q2 San Francisco Peninsula Market Research Report

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Development Reinvigorates the Peninsula Market

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San Francisco Peninsula’s commercial real estate market bounced back in Q2 2021 with 2.9 million square feet of gross absorption, up 184.5 percent compared to Q2 2020. However, the bulk of this activity stemmed from new construction coming online. More than 2.0 million square feet of office and R&D space was delivered, 95.3 percent of which was immediately absorbed due to expansion commitments made prior to the pandemic. The overall market vacancy rate did not change from the previous quarter, standing at 7.7 percent, and remains 150 basis points above the same period last year.

 

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2021 Q2 San Francisco Peninsula Market Research Report

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Related Experts

Nicole So

Research Manager

Silicon Valley

Nicole began her real estate journey with Colliers where she has been a key member of the Silicon Valley Research Team for six years, working her way to Research Manager for the San Francisco Peninsula and Silicon Valley offices. Along with her team, she is committed to data excellence to uphold Colliers' standing as a leader in market trends and statistics. In addition to upkeeping Colliers' proprietary database, she produces the quarterly market reports, client thought pieces, and leads life science research for the Bay Area.

Nicole lives in Santa Clara and enjoys being outdoors, eating new foods, and building life-long connections through fun experiences. 

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Mike Cobb

Senior Vice President

Silicon Valley

Mike specializes in the sale and leasing of office, industrial and R&D properties on the San Francisco Peninsula. Mike possesses a depth of market knowledge and experience, and his expertise has proven a great benefit to his clients.

A skilled market analyst and forecaster, Mike has been the lead author of Colliers’ San Francisco Peninsula quarterly market report since 2002. He is the owner of Opinion of Value, a leading commercial real estate blog covering the San Francisco Peninsula and Silicon Valley. In addition to successful assignments with institutional and local property owners, Mikes’ clients have included prominent local technology firms, start-ups, and national manufacturing concerns. He has also successfully represented various non-profit organizations on highly challenging facility acquisition and disposition assignments. Mike joined Colliers International in December, 2001 as a veteran of the brokerage industry and with a strong focus on the Peninsula market.  Mike is active in his local community. He has served as a Director on the boards of a number of non profit groups involved in education and the arts, and been appointed to several financial oversight commissions within his local school district. He has also coached youth sports.

 

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Mike Davis

Executive Vice President

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Mike joined Colliers International to lead the company’s Industrial/Research & Development (R&D) Division on the San Francisco Peninsula. Since joining Colliers he is consistently recognized as a top 10% producer nationwide (Everest Club) and a top producing broker in San Mateo County. Prior to joining Colliers, he was Grubb & Ellis’ Top 3 producer in 2011 and in 2008, 2007, 2004, 2003 and 2002, he was the #1 producer for CB Commercial in San Mateo County. Mike has trained several commercial real estate advisors and has been an active principal in his own real estate investments. Mike counts among his clients: Avis/Budget, Balco Properties, Black Creek Group, BYD, California Teachers Association, DHL, Fortress Investment Group, GLP, iStar Financial, Link Industrial Properties (Blackstone), LSG Sky Chefs, Oracle, Prologis, ReadySpaces, The San Francisco Examiner, Union Pacific, UPS, and Windy Hill Property Ventures to name a few. 

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Susan Gregory

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AREA OF EXPERTISE
Widely recognized as one of the most experienced and successful owner representatives practicing in Silicon Valley, Susan has worked on behalf of many of the most important landlords in the region. She is proud of the long-term success of these client relationships, which over the last 25 years have yielded over 100 successful transactions per year. Deal by deal, she brings the highest standards of skill, experience and creativity to her clients.  She is an expert in maximizing return via sophisticated marketing, lease negotiations  and financial analysis.

The breadth of Susan’s experience in new office development, is extensive—encompassing all phases from pre-ground-breaking planning to 100% lease up. Her professionalism and meticulous follow-through are evident in every aspect of her work and reflect the genuine passion and enthusiasm she has for the business. 

BUSINESS AND EDUCATIONAL BACKGROUND
Prior to joining Colliers in 1996, Susan worked in leasing and asset management as Vice President for PS Business Parks, Inc. In that role, she managed 3.8 million square feet of office and R&D properties in the western United States.

COMMUNITY INVOLVEMENT
In her free time, Susan enjoys tennis, travel and the extensive arts scene in the area.  She supports a number of philanthropic organizations that focus on the visually impaired and promoting the arts in the Bay Area.

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