Manhattan, San Francisco Bay Area head to head in YTD office sales
Manhattan has led the way year-to-date in office property sales, according to Yardi Matrix data. Office sales totaled $38.8 billion nationwide through June. Increased transaction volume will need to continue for the rest of the year to match 2018’s total of $91.1 billion.
Manhattan’s total year-to-date sales were at $3.77 billion with the San Francisco Bay Area trailing not too far behind with $3.73 billion. The Bay Area includes nine counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma.
The San Francisco office market recorded $1.29 billion and $1.43 billion, respectively, in the first and second quarters of 2019, well ahead of 201