Figures
San Francisco Peninsula Industrial Figures Q3 2026
October 12, 2026 5 Minute Read
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- Leasing activity totaled about 540,000 sq. ft. down from Q2 2026 total of 760,000 sq. ft.
- Net absorption turned positive at 182,000 square feet (sq. ft.), up from negative 70,000 square feet in Q2 2026. This is mainly due to a large deal in South San Francisco.
- Vacancy decreased quarter-over-quarter (QoQ) by 60 basis points (bps), from 5.4% to 4.8%. Availability fell 50 bps QoQ from 7.7% to 7.2%
- Average asking rents edged down from $2.00 to $1.96 per sq. ft. on a direct, monthly, triple-net (NNN) basis.
- There were approximately 25 active industrial requirements totaling 916,000 sq. ft. at the end of Q3 2026. This is slightly down from 1.08 million sq. ft. (msf) in Q2 2026; however, some of the requirements were removed due to transacting. About 80% of these requirements were for less than 100,000 sq. ft. Automotive companies comprised about 25% of the demand on a sq. ft. basis followed by technology companies at 19%.