Consultants tell San Rafael committee office values down countywide while pockets see record lease rates
Private-sector consultants told the subcommittee that office values have fallen broadly while certain submarkets and medical/senior housing demand remain strong; presenters warned approvals do not guarantee construction given high costs and interest rates.
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Consultants presenting commercial real-estate findings told San Rafael’s Economic Development & Housing Subcommittee that market conditions are bifurcated: some submarkets show high lease rates while others have seen significant downturns in office values.
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