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In the Works

San Mateo County started off 2017 on a promising note. As buildings are nearing completion, companies are becoming more entitled to snatch up any available space. Two of the top office transactions, as well as the top research & development (R&D) transaction, occurred in buildings currently under construction with completion dates later this year. Pre-leasing appears to be the new trend as 70.4 percent of all office space and 100 percent of all R&D buildings under construction have already been pre-leased. While the industrial market does not have any new developments planned in the near future, their supply continues to be in demand leaving this a very tight market.