San Francisco North Bay MarketBeat Reports

The North Bay office vacancy rate closed the fourth quarter of 2020 at 12.4%, a quarterly increase of 100 basis points (bps). This rise was felt across Marin and Sonoma counties with vacancy up 100 bps in both.

The North Bay industrial market closed the fourth quarter with an overall vacancy rate of 5.8%, unchanged from the previous quarter. 

In the North Bay retail market as of the fourth quarter of 2020, the average asking rent in the region was recorded at $26.18 per square foot (psf) on an annual triple net basis.

The Napa Solano office market recorded overall vacancy at the end of the fourth quarter at 7.9%, a 10 basis point increase from the third quarter figure of 7.8%. Modest leasing activity persisted, with little available space coming online.

The Napa and Solano County industrial market had its fourth consecutive quarter in the black, recording 857,301 sf of positive net absorption.