房地产 -2025年第三季度旧金山半岛研发数据 San Francisco Peninsula RD Figures Q3 2025.pdfVIP

FIGURES|SANFRANCISCOPENINSULARD|Q42025

FIGURES|SANFRANCISCOPENINSULARD|Q42025

Developmentpipelinehaltsandtenant

demandshifts

24.6%1.1M268K$6.123.7%

VacancyRateSq.Ft.NetAbsorption(SF)Sq.Ft.UnderConstructionNNN/LeaseRateUnemploymentRate

ConversionExistingPropertiesSanMateoCounty

Note:Arrowsindicatechangefrompreviousquarter.

FIGURE1:VacancyNetAbsorptionTrend

MARKETHIGHLIGHTS

•SanMateoCounty’slaborforceincreasedto448,200with431,600employedresidentsatthe1,400,000NetAbsorptionVacancy30%

closeofQ42025.Theunemploymentrateclosedthequarterat3.7%,a2-basis-point(bps)1,200,00028%

increaseyear-over-year(YoY),anda2-bpsdecreasesinceQ32025.26%

1,000,000