Hines Puts San Jose Among Top U.S. Manufacturing Markets, Spotlights Fremont-Newark Corridor
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 43rd San Francisco story tracked on the wire in September 2026. All San Francisco coverage →
- 17 stories mentioning Hines on the wire in the past 90 days. Hines coverage →
Computed from Real Estate Trail’s own tracked coverage
Hines Research scored roughly 1,500 industrial submarkets nationwide and found seven in San Jose that clear its bar for durable manufacturing demand, making Silicon Valley the only Bay Area metro on a shortlist otherw…
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