{"id":1004516548,"date":"2021-03-23T06:39:17","date_gmt":"2021-03-23T14:39:17","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004516548"},"modified":"2021-05-15T10:19:20","modified_gmt":"2021-05-15T18:19:20","slug":"san-francisco-market-update-sales-still-slow-by-bay-area-standards","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/","title":{"rendered":"San Francisco Market Update: Sales Still Slow by Bay Area Standards"},"content":{"rendered":"

\"Standard<\/a>In February, five properties totaling 415,585 square feet of office space traded for $178 million in the Bay Area, according to CommercialEdge data. The amount is relatively similar to the market\u2019s January activity, when $163 million in office assets were sold, totaling 928,416 square feet. The amount also marks a sharp, 79 percent decline in transaction volume year-over-year, as 2 million square feet of space traded for $833 million in February 2020.<\/p>\n

Four of the five deals involved Silicon Valley assets located in primary suburban submarkets. The fifth transaction was a suburban San Francisco repurchase; The Wiseman Co. acquired a 30,000-square-foot, Napa property that the company had previously sold in 2003.<\/p>\n

Investor appetite was mostly pointed at creative office and office\/flex space. There was however some forward-looking interest in life science space, as one of the traded assets is slated for conversion. A joint venture between BioScience Properties and Harrison Street purchased a 67,000-square-foot building at 303 Ravendale Drive in Mountain View, with the intention to transform it into Class A life science space.<\/p>\n

The largest sale closed in early February, when Hines acquired a 127,000-square-foot property<\/a> at 5301 Patrick Henry Drive in Santa Clara, Calif., for $68 million. Apple has been the sole tenant of the one-story building since mid-2015. The location, together with a neighboring office property at 5440 Patrick Henry Drive, houses around 1,600 of the Cupertino-based company’s employees.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here<\/a>. We included properties of 25,000+ square feet in our research.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Office investments added up to $178 million in February, marking a significant year-over-year drop, according to CommercialEdge.<\/p>\n","protected":false},"author":870,"featured_media":1004528924,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1609,15],"tags":[51047,50674],"class_list":["post-1004516548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-san-francisco","category-west","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nSan Francisco Market Update: Sales Still Slow by Bay Area Standards - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Market Update: Sales Still Slow by Bay Area Standards\" \/>\n<meta property=\"og:description\" content=\"Office investments added up to $178 million in February, marking a significant year-over-year drop, according to CommercialEdge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-23T14:39:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:19:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/\",\"name\":\"San Francisco Market Update: Sales Still Slow by Bay Area Standards - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg\",\"datePublished\":\"2021-03-23T14:39:17+00:00\",\"dateModified\":\"2021-05-15T18:19:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"San Francisco Market Update: Sales Still Slow by Bay Area Standards\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\",\"name\":\"Adriana Marinescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"caption\":\"Adriana Marinescu\"},\"description\":\"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Francisco Market Update: Sales Still Slow by Bay Area Standards - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/","og_locale":"en_US","og_type":"article","og_title":"San Francisco Market Update: Sales Still Slow by Bay Area Standards","og_description":"Office investments added up to $178 million in February, marking a significant year-over-year drop, according to CommercialEdge.","og_url":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-03-23T14:39:17+00:00","article_modified_time":"2021-05-15T18:19:20+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg","type":"image\/jpeg"}],"author":"Adriana Marinescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/","url":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/","name":"San Francisco Market Update: Sales Still Slow by Bay Area Standards - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg","datePublished":"2021-03-23T14:39:17+00:00","dateModified":"2021-05-15T18:19:20+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-sales-still-slow-by-bay-area-standards\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"San Francisco Market Update: Sales Still Slow by Bay Area Standards"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1","name":"Adriana Marinescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","caption":"Adriana Marinescu"},"description":"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-25.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004516548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004516548"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004516548\/revisions"}],"predecessor-version":[{"id":1004534418,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004516548\/revisions\/1004534418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004528924"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004516548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004516548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004516548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}