San Mateo Demolishing 20% of its Office Inventory!

I get caught up in my San Francisco East Bay region that I sometimes forget what is happening to our local office market may also be doing the same in other regions. The SF Business Times July 18, 2025, headlined “San Mateo’s Office Glut to Fuel Demolition Wave”, and describes how this 8 million square foot office market may see 20% of its inventory torn down and turned into new housing. “Nationally, demolitions and conversions are now set to outpace new office construction for the first time in a generation. CBRE estimates that 23 million square feet of office space will be removed or repurposed this year. That is nearly double the new supply expected to deliver in 2025”. I wonder where else in California and around the country this phenomenon is occurring…