San Francisco North Bay Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, , Colliers
Quarterly office market indicators for San Francisco North Bay, aggregated by CREhunt from Cushman & Wakefield, , Colliers. As of Q1 2026, average asking rent was $43.08/SF with a 16.2% vacancy rate.
Projected current office pricing — San Francisco North Bay
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for San Francisco North Bay 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 Q1 2026 asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~84% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $43.08/SF | 16.2% | 46K SF | — | Cushman & Wakefield |
| Q1 2026 | $143.00/SF | 11.1% | 391K SF | — | |
| Q1 2026 | $25.00/SF | 11.8% | 200K SF | — | Colliers |
| Q3 2021 | — | 25.5% | 20K SF | — | Colliers |
| Q3 2021 | — | 15.0% | 1.1M SF | — |
Frequently asked questions
- What is the average asking rent for office space in San Francisco North Bay?
- As of Q1 2026, the average asking rent for office space in San Francisco North Bay was $43.08/SF, per Cushman & Wakefield.
- What is the office vacancy rate in San Francisco North Bay?
- The office vacancy rate in San Francisco North Bay was 16.2% as of Q1 2026 (Cushman & Wakefield).
- Where does CREhunt's San Francisco North Bay market data come from?
- This report aggregates quarterly office market data for San Francisco North Bay from Cushman & Wakefield, Colliers.