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Market Highlights
- Overall vacancy increased by 310 basis points to 26.2% from 23.1% in Q2 2025, driven in part by the delivery of more than 500,000 square feet (sf) of new life sciences space at Avia Labs and 1699 Bayshore Highway.
- The development site for Longfellow Real Estate Partners' planned 709,000-sf Atrium Labs life sciences campus in Emeryville sold for $26.9 million, nearly half of its purchase price in 2019.
- Pfizer is closing its 164,000-sf office at 181 Oyster Point Boulevard in South San Francisco as employees transition to remote roles, adding a large block of available space to the market.