San Francisco Peninsula Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Kidder Mathews, Colliers, Newmark
Quarterly office market indicators for San Francisco Peninsula, aggregated by CREhunt from Kidder Mathews, Colliers, Newmark. As of Q2 2026, average asking rent was $66.00/SF/yr and vacancy was 23.8%, per Kidder Mathews.
Projected current office pricing — San Francisco Peninsula
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for San Francisco Peninsula office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Kidder Mathews asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~76% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Kidder Mathews | $66.00/SF/yr | 23.8% | 786K SF | 712K SF | Kidder Mathews |
| Q1 2026 Colliers | — | 16.5% | 21K SF | — | Colliers |
| Q4 2025 Newmark | $73.32/SF/yr | 21.2% | 98K SF | — | Newmark |
| Q3 2025 Newmark | $74.52/SF/yr | 21.1% | — | — | Newmark |
| Q2 2025 Newmark | $73.68/SF/yr | — | 148K SF | — | Newmark |
| Q1 2025 Newmark | $72.24/SF/yr | — | 724K SF | — | Newmark |
| Q4 2024 Newmark | — | 18.5% | — | — | Newmark |
| Q3 2024 Newmark | — | 18.3% | 878K SF | — | Newmark |
| Q2 2024 Newmark | — | 19.0% | — | — | Newmark |
| Q1 2024 Newmark | — | 18.2% | 49K SF | — | Newmark |
| Q4 2023 Newmark | — | 18.5% | — | — | Newmark |
| Q3 2023 Newmark | — | 15.8% | — | — | Newmark |
| Q2 2023 Newmark | $80.52/SF/yr | 15.3% | — | — | Newmark |
| Q1 2023 Newmark | — | 12.9% | — | — | Newmark |
| Q4 2022 Newmark | — | 12.2% | -413K SF | 20K SF | Newmark |
| Q3 2022 Newmark | — | 11.2% | -369K SF | — | Newmark |
| Q3 2022 Colliers | $77.64/SF/yr | 8.9% | — | — | Colliers |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each San Francisco Peninsula office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Belmont/San Carlos | $4.25/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Brisbane | $3.57/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Burlingame | $5.29/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Daly City | $3.12/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Foster City | $5.55/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Menlo Park | $7.05/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Redwood City | $5.96/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Redwood Shores | $5.60/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| San Bruno/Millbrae | $4.05/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| San Mateo | $5.32/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| South San Francisco | $3.60/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
How the brokerage sources compare
For Q3 2022, the brokerages CREhunt aggregates for San Francisco Peninsula office did not fully agree. On vacancy, the sources span 2.3 points — from 8.9% (Colliers) to 11.2% (Newmark). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Colliers | 8.9% | $77.64/SF/yr | — |
| Newmark | 11.2% | — | — |
Per-brokerage figures for Q3 2022, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in San Francisco Peninsula?
- As of Q2 2026, the average asking rent for office space in San Francisco Peninsula was $66.00/SF/yr, per Kidder Mathews.
- What is the office vacancy rate in San Francisco Peninsula?
- The office vacancy rate in San Francisco Peninsula was 23.8% as of Q2 2026 (Kidder Mathews).
- Where does CREhunt's San Francisco Peninsula market data come from?
- This report aggregates quarterly office market data for San Francisco Peninsula from Kidder Mathews, Colliers, Newmark.
- How much do brokerage estimates differ for office space in San Francisco Peninsula?
- For Q3 2022, the brokerage sources CREhunt aggregates for San Francisco Peninsula did not fully agree. On vacancy, the sources span 2.3 points — from 8.9% (Colliers) to 11.2% (Newmark). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.