Posts by Cale Miller

2020 in Review–A Warm-Up of Things to Come for Bay Area Commercial Real Estate?

on March 03, 2021

Anyone reading this understands that 2020 was one of the most volatile and difficult years in our lifetime. With that, the commercial real estate market and industry has become one of the most affected industries by the COVID-19 pandemic. However, 2020 did not affect all commercial real estate categories in the same way. The industrial sector of the economy has remained strong and vibrant, as have e-commerce-based companies. This has created unprecedented demand for industrial and manufacturing space around the country, and many categories of industrial space, particularly distribution space, have actually seen vacancy rates decline and rental rates increase. Similarly, the biotech industry set records for capital formation during the pandemic, creating unforeseen and unprecedented demand in all of the major biotech markets across the country, where we currently see not only supply shortages, but upward pressure on rents in every market from Boston, to San Diego, to the San Francisco Bay Area and Seattle. 

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About this Author
Cale Miller

Cale Miller

Cale Miller is a senior vice president of Hughes Marino, an award-winning commercial real estate company specializing in tenant representation and building purchases with offices across the nation. Contact Cale at 1-844-662-6635 or cale@hughesmarino.com to learn more.