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Marcus & Millichap has released its fourth quarter forecast for the industrial market in San Francisco. This quarter it predicts that the vacancy rate will increase 70 basis points to 6.5%.

The increase in vacancy is likely related to an active construction pipeline. The report also anticipates that new construction deliveries will total 1 million square feet in the fourth quarter, an increase of 1.5%. As a result, rental rates are also up, climbing 5.4% to $26.98 per square foot. While the growth rate has fallen from 2017 and 2018, the rental rate has steadily grown over the last five years, even through 2020.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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