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NEW YORK—San Francisco has been a valued marketplace for manydifferent asset types—just not so much industrial. Yet, as NewmarkKnight Frank noted in a new report, that is rapidly changing.
Demand for Class A industrial space in the metro area hasskyrocketed over the past three years, growing from fewer than50,000 square feet of requirements in the market at the start of2017 to more than 1.7 million square feet of requirements by theend of 2019, it said. In addition, over the past three years,asking rents for Class A industrial space have grown 35.9%. Themarket has responded, according to NKF: 1.1 million square feet ofClass A industrial space has been developed or renovated in thattime, and another 1 million square feet is proposed over the nextthree years.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
