2020 Office Space Rent & Sales
- $61.26 2020 Avg. Asking Rent
- 2.11% Y-o-Y Avg. Asking Rent Change
- 17.86% 2020 Office Vacancy Rate
San Mateo office price per square foot in 2020 was $61.26 on average. This marked a +2.11% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.86% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- San Mateo Class A Office Space$69.06
- San Mateo Class B Office Space$56.56
- California Class A Office Space$55.92
- California Class B Office Space$35.12
- California Class C Office Space$23.50
San Mateo, CA Office Asking Rents by Class
2020 Office Construction in San Mateo, CA
- San Mateo, CA Total SF completed in 2020 30,000
- San Mateo, CA Total SF under construction in 2021 127,092
During 2020, 30,000 square feet of new office space were delivered across the market. At the close of 2020, the San Mateo office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 30,000 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 127,092 square feet of office space to the market, before year-end.
|Bay Meadows - Station 1||2750 South Delaware Street, 94403||219,831||2022|
|Bay Meadows - Station 5||3150 South Delaware Street, 94403||218,554||2022|
|Parallel on Third||401 East 3rd Avenue, 94401||116,122||2022|
|520 South El Camino Real||520 South El Camino Real, 94402||127,092||2021|
|Yardline||922 South Claremont Street, 94402||30,000||2020|
|324 Lakeside Drive||324 Lakeside Drive, 94404||357,244||2019|
|Bay Meadows - Station 2||2850 South Delaware Street, 94403||189,103||2019|
|Franklin Templeton - Building 930||1 Franklin Pkwy, 94403||122,630||2019|
|Franklin Templeton - Building 950||1 Franklin Pkwy, 94403||122,630||2019|
|405 East 4th Avenue||405 East 4th Avenue, 94401||62,341||2019|
Worth noting among recent office completions on the San Mateo market is Bay Meadows - Station 1, which is currently the largest new office development in the city, at 219,831 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all San Mateo commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.