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Commercial <br />The relative affordability of commercial real <br />estate is even more dramatic. In 2018, Tri -Valley <br />commercial rents experienced a decrease <br />While all other Bay Area markets increased. <br />San Francisco real estate is, on average, more <br />than 2.5x the price of Tri -Valley real estate .12 <br />Additionally, San Francisco rates can rise into the <br />$9-11 per square foot range due to the widely <br />used NNN, or'triple-net', rental model, making <br />tenants liable for property taxes, insurance <br />premiums and maintenance/repair costs on <br />top of the base rental price. Offices in the Tri - <br />Valley, in contrast, are generally priced as FS, <br />or'full-service,' making the base price all- <br />inclusive and more business friendly. This results <br />in a potential 400% cost differential between <br />offices in the Tri -Valley and San Francisco. <br />Commercial Rents by Location <br />Tri -Valley $2.66 10.60% <br />San Francisco $7.66 5.80% <br />Peninsula $5.60 4.30% <br />San Jose/Silicon Valley $4.40 5.10% <br />FA <br />2018 Developments <br />The most notable themes of 2018 in the <br />commercial real estate market Was not only <br />the continuation of companies expanding <br />their footprint, but also the acceleration <br />of maturing businesses transitioning from <br />renters to owners through significant real <br />estate purchases. In doing so, Pleasanton <br />Economic Development Director Pam <br />Ott points out that these companies are <br />"making the ultimate financial commitment <br />by buying property in the Tri -Valley." <br />Purchased Space <br />Patelco 212,000 Dublin <br />BioRad 101,000 Pleasanton <br />ZEISS` <br />11 acres Dublin <br />430,000 square feet expected on this site. <br />Leased Space <br />lox Genomics 149,000 Pleasanton <br />TriNet 110,000 Dublin <br />Valent USA 96,000 San Ramon <br />Teleflex/NecTract 76,500 Pleasanton <br />San Francisco real Franklin Templeton 54,000 San Ramon <br />estate is, on average, <br />Cooper Companies 50,000 San Ramon <br />more than 2.5x the <br />Crown and Castle 37,000 Dublin <br />price of Tri -Valley real <br />estate. <br />