Great Positive Commercial Real Estate News!!
A number of wonderful announcements about our commercial real estate markets. First, here in the San Francisco Bay Area Ripple just leased 130,000 square feet of office space at 600 Battery St. in San Francisco. Applied Materials just subleased 246,000 square feet 1t 3333 Scott Blvd. in Santa Clara, and on a national level, the retail market has come back alive, with the national vacancy dropping to 4.5%!! There was 24 million square feet of retail space leased in the first quarter 2022. Retail rental rates are expected in increase by about 4% this year.
