san jose Industrial Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from JLL, CBRE, Newmark
Quarterly industrial market indicators for san jose, aggregated by CREhunt from JLL, CBRE, Newmark. As of Q1 2026, average asking rent was $20.16/SF/yr and vacancy was 6.7%, per JLL.
Projected current industrial pricing — san jose
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for san jose industrial yet, so this applies the typical cap rate across comparable industrial 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 JLL asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent trend-adjusted to today). Assumes ~93% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 JLL | $20.16/SF/yr | 6.7% | 301K SF | — | JLL |
| Q1 2026 CBRE | $34.08/SF/yr | 13.8% | — | — | CBRE |
| Q4 2025 CBRE | — | 4.5% | — | — | CBRE |
| Q4 2025 Newmark | $19.68/SF/yr | 6.6% | 505K SF | — | Newmark |
| Q3 2025 Newmark | $19.80/SF/yr | 5.6% | 2.3M SF | — | Newmark |
| Q2 2025 Newmark | $18.84/SF/yr | 6.5% | 1.4M SF | — | Newmark |
| Q1 2025 Newmark | $18.84/SF/yr | 6.4% | — | — | Newmark |
| Q3 2024 Newmark | $18.96/SF/yr | 4.5% | 1.5M SF | — | Newmark |
| Q1 2024 Newmark | $17.88/SF/yr | 4.1% | — | — | Newmark |
| Q4 2023 Newmark | $17.52/SF/yr | 3.9% | 86K SF | — | Newmark |
| Q3 2023 Newmark | $18.96/SF/yr | 4.2% | — | — | Newmark |
| Q1 2023 Newmark | $18.36/SF/yr | 4.4% | -97K SF | — | Newmark |
| Q4 2022 Newmark | $17.28/SF/yr | 3.9% | -122K SF | — | Newmark |
| Q2 2022 Newmark | $16.08/SF/yr | 4.5% | -377K SF | — | Newmark |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for san jose industrial did not fully agree. Asking-rent estimates differ by $13.92/SF/yr — from $20.16/SF/yr to $34.08/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 13.8% | $34.08/SF/yr | — |
| JLL | 6.7% | $20.16/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in san jose?
- As of Q1 2026, the average asking rent for industrial space in san jose was $20.16/SF/yr, per JLL.
- What is the industrial vacancy rate in san jose?
- The industrial vacancy rate in san jose was 6.7% as of Q1 2026 (JLL).
- Where does CREhunt's san jose market data come from?
- This report aggregates quarterly industrial market data for san jose from JLL, CBRE, Newmark.
- How much do brokerage estimates differ for industrial space in san jose?
- For Q1 2026, the brokerage sources CREhunt aggregates for san jose did not fully agree. Asking-rent estimates differ by $13.92/SF/yr — from $20.16/SF/yr to $34.08/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.