The ongoing success of the commercial real estate market on the San Francisco Peninsula is fueled by a thriving local economy and large corporate investments. San Mateo County continues to hold the lowest unemployment rate amongst California counties, falling by 2.0 basis points to 2.0 percent this quarter. Current labor force and employment levels are the highest recorded since 1990 by the Employment Development Department at 464,800 and 455,400 respectively. This economic success is evident in the growing asking rates and low vacancy rates.
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