According to the latest report from Newmark Cornish & Carey, 2015 continued to be a good year in commercial real estate. Rents firmed up in less than class A locations. Southern Marin rents are now above pre-recession levels. Bio Marin is expanding in downtown San Rafael, pushing out tenants at San Rafael Corporate center. Rents are now rising in northern Marin as rent sensitive tenants see a bargain compared to southern Marin. The turnover of large class A properties continued. Most were at substantially below replacement cost.
The full Office Market Reports for Q4 2015 are available here: