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San Francisco Bay Area state of the market

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San Francisco Bay Area state of the market

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Both technology and price drive investment strategy in the San Francisco Bay Area. How are these dynamics affecting commercial real estate properties? Here is a quick state of the market overview.


For more local, regional and global investment trends, visit jll.com/investor

Both technology and price drive investment strategy in the San Francisco Bay Area. How are these dynamics affecting commercial real estate properties? Here is a quick state of the market overview.


For more local, regional and global investment trends, visit jll.com/investor

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San Francisco Bay Area state of the market

  1. 1. Bay Area 2015 State of the Market us.jll.com/ULI
  2. 2. Global and domestic investors pay to play in the Bay Area.
  3. 3. Two elements drive investment strategy in the area. Technology Price
  4. 4. How are each of these dynamics affecting commercial real estate properties?
  5. 5. $5.3B year to date Silicon Valley’s transaction volume total makes it the most active Bay Area office sales market. TECH Office
  6. 6. PRICE Limited inventory and plenty of bids are driving San Francisco’s Class A prices to an average of $700 per square foot. $700 per square foot Office
  7. 7. TECH 54,000 residents Seattle-Bellevue is home to 131,187 high- tech jobs. In comparison, the Bay Area’s high-tech job base is nearly triple that amount at 384,189 jobs. Multifamily
  8. 8. PRICE A renter in San Francisco is looking at nearly $3,500 on average for a one bedroom, which is helping fuel multifamily momentum in East Bay/Oakland. $3,458 average rent Multifamily
  9. 9. Silicon Valley’s year-over-year wage growth for tech professionals is on the rise, meaning there’s a larger consumer population at the prime retail spending age. TECH 8.2% (Y-O-Y) wage growth Retail
  10. 10. Overall rent growth is up 4.0 percent YOY, making it challenging for retailers to afford rents. $100 per square foot PRICERetail
  11. 11. Silicon Valley’s 8.2 percent Y-O-Y wage growth for tech professionals is on the rise, meaning there’s a larger consumer population at the prime retail spending age. Bay Area industrial tenants hail as 32.1 percent of tenants are in the technology sector. TECH 32.1% tech tenants Industrial
  12. 12. The average price for Class A product is nearing $100 per square foot, matching the Inland Empire – a consistent top industrial market nationally. $100 per square foot PRICE Industrial
  13. 13. Silicon Valley’s 8.2 percent Y-O-Y wage growth for tech professionals is on the rise, meaning there’s a larger consumer population at the prime retail spending age. Silicon Valley’s lodging market has seen five years of consecutive double-digit revenue per available room growth, with its tech base driving corporate demand. TECH 5 years RevPAR growth Hotels
  14. 14. PRICE A renter in San Francisco is looking at nearly $3,500 on average for a one bedroom, which is helping fuel multifamily momentum in East Bay/Oakland, where average rent is $2,674. San Francisco’s average daily rate continues its rise, hitting $219.76 as of August 2015 and RevPAR is projected to grow by 10.0-12.0 percent in 2015. $219.76 average daily rate PRICE Hotels
  15. 15. Let’s connect! 14 • Learn more at jll.com/investor • Contact JLLCapitalMarkets@am.jll.com • Visit us at the 2015 ULI Fall Meeting Booth no. 5 us.jll.com/uli

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