Historic Heights SAN FRANCISCO PENINSULA. Research & Forecast Report 2.30% 444, ,500. San Mateo County

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1 Research & Forecast Report SAN FRANCISCO PENINSULA Historic Heights > > Average asking rates reached all-time highs in all three markets > > Market remains solid with high levels of gross absorption Commercial real estate property on the San Francisco Peninsula continues its trend of growth and desirability into the second half of, as demonstrated by low vacancy rates and all-time high average asking rates for all three product types. The success is also seen in this quarter s gross absorption levels, approximately 3,059,555 square feet was leased or sold since July, around 1,852,890 more square feet than third quarter of last year. Vacancy rates have maintained a tight range of fluctuation over the past few years, dropping to the single digits in all markets as asking rates continue to rise. Like much of the Bay Area, the San Francisco Peninsula commercial real estate market is experiencing challenges allocating its attractive but limited available space. The solution for balancing fruitful office space, the historically successful industrial sector and the burgeoning, tech-driven research and development (R&D) sector has been found in large, flexible business parks in the development pipeline, to relieve pressure put on the existing building base. This competitiveness has supported a market experiencing ubiquitous asking rate growth over the past five years and welcomes large tenants such as Genentech and Facebook to collect additional locations on the Peninsula. Direct Vacancy vs. Sublease Vacancy Rates San Mateo County All Products Direct Vacancy Rate 4.0% 3.5% 3.0% 2.5% 2.0% Q4 Q1 Q2 Direct Vacancy Rate Q4 Q1 Q2 Sublease Vacancy Rate 0.60% 0.45% 0.30% 0.15% 0.00% Overall vacancy rate decreased 14 basis points from 3.9 percent last quarter to 3.7 percent. Direct vacancy decreased 12 basis points and sublease vacancy decreased by 2 basis points since last quarter. Sublease Vacancy Rate San Mateo County Labor Force 454,500 Market Trends Relative to prior period All Products Q4 * Vacancy Net Absorption Under Construction Office Rental Rate R&D Rental Rate Industrial/Warehouse Rental Rate *Projected Summary Statistics All Products Previous Quarter Current Quarter Overall Vacancy Rate 3.71% 3.99% Net Absorption 89,909 (388,857) Construction Completed () 259,079 29,989 Under Construction () 5,149,182 4,276,117 Office Asking Rents (FS)* $5.14 $5.31 R&D Asking Rents (NNN)* $3.73 $4.31 Industrial Asking Rents (NNN)* $1.48 $1.49 *Asking Rents Reported Monthly Economic Indicators Number of Employed 444,100 *Source: labormarketinfo.edd.ca.gov/data/top-statistics.html Previous Quarter Current Quarter U.S. Unemployment Rate 3.80% 3.90% Labor Force Participation 62.70% 62.70% Interest Rate - 10 Year Treasury 2.87% 3.19% Consumer Price Index Consumer Confidence Business Confidence *Source: tradingeconomics.com/united-states/indicators Unemployment Rate 2.30%

2 Office > > Average asking rents increased 4.7 percent since > > High level of gross absorption indicates a highly desirable market San Mateo County Office Rent vs. Vacancy 25% $6.00 The office leasing market on the Greater San Francisco Peninsula, covering San Mateo County, Palo Alto, Mountain View and Los Altos continues to show remarkable stability. The vacancy rate for the Greater Peninsula closed the quarter with a modest increase to its current level of 5.4 percent, up from last quarter s 5.1 percent figure. San Mateo County s vacancy rate of 6.8 percent shows a comparable increase over last quarter s 6.4 percent rate, comfortably in the range observed for the past two years. Gross absorption this quarter, a measure of all leasing activity in a given period, totaled an exceptional 1,014,071 square feet in San Mateo County, nearly matching the total leasing activity for the entire first half of. Typically a quarter of high gross absorption in a smaller market, such as San Mateo County, can be attributed to the lease of a single large campus location. The high absorption reflected here is simply an impressive quarter of very strong leasing activity. Despite the small escalation in vacancy, lease rates have remained solid, booking modest gains over last quarter and year to date. The current average asking rate for office in San Mateo County of $5.31 fully serviced per square foot per month, is up nominally from last quarter s $5.14 average. While the gains are only slight and come against an upward move in vacancy, this represents the highest average asking rate for San Mateo County in the past two years. Factoring in the highly sought after markets of Palo Alto and Mountain View brings the average asking rate for office space on the Greater San Francisco Peninsula to $5.47 fully serviced per square foot. Poshmark Redwood City 20% 15% 10% 5% 0% ,000,000 1,500,000 1,000, , (500,000) Total Vacancy Rate Average Asking Rate (FS) San Mateo County Office Net Absorption vs. Gross Absorption $5.00 $4.00 $3.00 $2.00 $1.00 (1,000,000) Gross Absorption Net Absorption While tenants continue to secure large blocks of space within the Greater San Francisco Peninsula, this quarter brought its share of notable transactions including Adaptive Insight s 54,863 square foot Palo Alto lease, Poshmark s 50,237 square foot lease in Redwood City and Versartis 34,464 square foot long-term lease in Menlo Park. For the moment, the local market seems to have found stability as vacancies and lease rates have been tracking in a relatively narrow band for the past two years. Given the ongoing pressure on available supply, the lack of sustained upward pressure on rents suggests that the market strength may not be broad. Larger users struggle to find suitable space in core locations, while spaces in some markets garner only modest activity. Strong leasing activity by the region s largest users will likely keep pressure on the broader market for the immediate future. San Mateo County Office Gross Absorption by Size Range 40.41% 10.12% 8.75% 12.16% 21.36% 11.46% 3K 3-5K 5-10K 10-20K 20-50K 50K 2 San Francisco Peninsula Research & Forecast Report Colliers International

3 R&D > > Average asking rates increased 15.6 percent since last quarter > > Global Blood Therapeutics is the largest R&D deal of the quarter San Mateo County R&D Rent vs. Vacancy 25% $5.00 The R&D sector is dominated by the life science submarket, which has been booming the past few years. The vibrant job market within this sector, combined with a large talent pool in the Bay Area continues to energize this product type and boost a surge of new development. It is also important to note that San Mateo County has the lowest level of unemployment in California, tracking 2.3 percent, compared to 4.0 percent nationwide. This level of employment is consistent with tenant occupancy in San Mateo County. The vacancy rate for R&D on the San Francisco Peninsula remains extremely low at 2.4 percent, with a mere 0.2 percent of that representing sublease vacancy. Tenants are not giving up space and the demand is surpassing supply. Average asking rates for the R&D market have reached an all-time high of $4.31 NNN per square foot, per month, which is a 15.6 percent increase from last quarter s $3.73 NNN and a 31.0 percent increase from this time last year, which averaged $3.29 NNN. This significant jump has to do with both demand and the high quality deliveries that continue to expand and elevate product on the market. Genentech South San Francisco 20% 15% 10% 5% 0% ,000, , Total Vacancy Rate Average Asking Rate (FS) San Mateo County R&D Net Absorption vs. Gross Absorption $4.00 $3.00 $2.00 $1.00 $ , , ,000 0 (200,000) (400,000) Gross Absorption Net Absorption Source: DES Architects + Engineers Genentech continues to lead the region for biotechnology and R&D as a whole. They have leased and purchased approximately 463,400 square feet of buildings this quarter, maintaining their status as not only the largest biotechnology company on the San Francisco Peninsula, but the largest tenant in San Mateo County as well. Genentech s most significant transaction this quarter was a four-building, 334,000 square foot purchase of 620, 640, 645 & 660 E. Grand Avenue in South San Francisco from HCP. Genentech occupies all of these buildings and exercised their option to purchase. The other two significant life science deals were both located at The Cove at Oyster Point in South San Francisco, which are owned by HCP as well. Global Blood Therapeutics leased 164,909 square feet at 181 Oyster Point Boulevard and Alector leased 114,783 square feet at 151 Oyster Point Boulevard. These transactions are indicative of the huge surge and absorption in the R&D sector that we expect will continue in the years to come. San Mateo County R&D Gross Absorption by Size Range 56.11% 2.71% 1.49% 5.66% 5.66% 28.37% 3K 3-5K 5-10K 10-20K 20-50K 50K 3 San Francisco Peninsula Research & Forecast Report Colliers International

4 Industrial > > Average asking rates increased 33.0 percent since > > Plenty's sublease is the largest industrial deal this quarter The industrial sector on the San Francisco Peninsula and nationwide remains extremely hot. Businesses like last mile logistics, freight services, food-related companies and technologydriven enterprises dominate the landscape within our dense infill location keeping upward pressure on demand and pricing. The steady industrial building base reduction due to redevelopment has also contributed to the extreme tightening of the San Mateo County market. San Mateo County Industrial Rent vs. Vacancy 12% 10% 8% 6% 4% 2% $1.80 $1.50 $1.20 $0.90 $0.60 $0.30 For the past few years, there has been a consistent contraction of this commercial product type on the San Francisco Peninsula. Reflecting on the statistics going several years back demonstrates how significantly our market has jumped. The most dramatic statistic this quarter are average asking rates, which are at a record high of $1.49 NNN per square foot, per month. This is a 33.0 percent above average asking rate compared to the third quarter of when they were at $1.12 NNN per square foot. Another significant comparison is of the industrial building base. In the past five years, the building base of industrial product has dropped 1,465,455 square feet from 40,873,212 square feet to 39,407,757 square feet. This comparison is a 3.7 percent decrease in an ever-shrinking market. The vacancy rate this quarter came in at 1.7 percent, a slight increase from last quarter, even though there was negative 92,601 square feet of net absorption. Vacancy has hovered around 1.5 percent for the past two years. Net absorption occasionally dips due to a few larger properties hitting the market or space sitting vacant due to impending development and restrictions on longer-term leases. This quarter was very active with a total 746,413 square feet of gross absorption from a total of 66 industrial deals compared to 23 deals last quarter and 46 deals this time last year. Plenty South San Francisco 0% ,000, , , , ,000 0 (200,000) (400,000) (600,000) 2010 Total Vacancy Rate Asking Asking Rents Rents (NNN) (NNN) San Mateo County Industrial Net Absorption vs. Gross Absorption $0.00 Gross Absorption Net Absorption San Mateo County Industrial Gross Absorption by Size Range 4.67% 4.88% Source: Google Earth Pro For the San Francisco Peninsula, deals over 50,000 square feet are significant and we had a few of them this quarter. In Brisbane at 100 West Hill Drive, Kizan International leased 54,910 square feet from Louis Raphael and Omni leased 79,300 square feet from Prologis at 240 Valley Drive. The largest deal this quarter transacted a bit further north at 570 Eccles Avenue in South San Francisco where Plenty signed a long-term sublease for 102,500 square feet with Prologis. These deals were signed at ever-increasing rates. In most cases, available properties see multiple offers. Despite reductions in inventory, the low vacancy and high asking rates demonstrate that the industrial market is not showing any signs of a slowdown % 12.18% 19.13% 28.09% 3K 3-5K 5-10K 10-20K 20-50K 50K 4 San Francisco Peninsula Research & Forecast Report Colliers International

5 Significant Lease Activity Omni 240 Valley Drive Brisbane 79,300 - Industrial MyoKardia DALY CITY BRISBANE SAN FRANCISCO BAY 1000 Sierra Point Parkway Brisbane 129,846 - Office/R&D SOUTH SAN FRANCISCO SAN BRUNO/ MILLBRAE BURLINGAME SAN MATEO FOSTER CITY BELMONT/ SAN CARLOS REDWOOD SHORES Plenty Eccles Avenue South San Francisco 102,500 Sublease - Industrial Alector 151 Oyster Point Boulevard South San Francisco 114,783 - R&D Global Blood Therapeutics 181 Oyster Point Boulevard South San Francisco 164,909 - R&D REDWOOD CITY MENLO PARK Allogene Therapeutics 210 E. Grand Avenue South San Francisco 68,072 - R&D Adverum Technologies Saginaw Drive Redwood City 82,830 - Office/R&D Significant Sale Activity PROPERTY ADDRESS SIZE BUYER TYPE E. Grand Avenue, South San Francisco 334,000 Genentech Office 1201 Broadway, Millbrae 142,600 Cadence Senior Living Multifamily 2755 Campus Drive, San Mateo 81,627 Harvest Properties Office 1520 Willow Road, Menlo Park 62,000 Facebook Industrial 1775 Woodside Road, Redwood City 19,776 Vink, LLC Office 152 Utah Avenue, South San Francisco 15,200 Jesus Acevedo Industrial 241 El Camino Real, 615 & 617 Partridge Avenue, Menlo Park 14,075 Hu Han Three, LLC/Magnificent Brilliance, LLC/Rolivia, LLC Mixed Use 5 San Francisco Peninsula Research & Forecast Report Colliers International

6 MARKET COMPARISONS OFFICE MARKET CLASS BLDGS TOTAL INVENTORY DIRECT DIRECT SUBLEASE SUBLEASE TOTAL CURRENT QUARTER PRIOR QUARTER CURRENT OCCUPIED CURRENT NET ABSORPTION NET ABSORPTION YTD WEIGHTED AVG ASKING RENTAL (FS) SOUTH PENINSULA* MOUNTAIN VIEW/LOS ALTOS A 58 5,036, , % % 197, % 4.58% 4,839,201 25, ,025 $6.64 B/C 165 2,729,762 73, % 11, % 84, % 2.32% 2,645,099 10,366 72,721 $5.69 Total 223 7,766, , % 11, % 282, % 3.79% 7,484,300 36, ,746 $5.96 PALO ALTO A 133 5,536,618 91, % 2, % 93, % 1.31% 5,442,934 7, ,110 $7.92 B/C 287 6,311,975 51, % 64, % 116, % 1.24% 6,195,729 (54,974) (21,125) $5.00 Total ,848, , % 66, % 209, % 1.27% 11,638,663 (47,369) 424,985 $7.03 SAN MATEO COUNTY MENLO PARK A 51 2,894,922 52, % 1, % 54, % 2.13% 2,840,693 7,028 38,280 $8.89 B/C 133 3,712,822 98, % 5, % 103, % 1.77% 3,608,894 (38,066) 2,122 $8.03 Total 184 6,607, , % 7, % 158, % 1.93% 6,449,587 (31,038) 40,402 $8.53 REDWOOD CITY A 33 3,189,078 2, % % 2, % 0.16% 3,186,928 (22,425) (19,025) $4.49 B/C 131 2,275, , % 4, % 109, % 4.31% 2,166,874 (13,333) 872 $5.76 Total 164 5,465, , % 4, % 111, % 1.91% 5,353,802 (35,758) (18,153) $5.13 BELMONT/SAN CARLOS A 13 1,060,032 68, % % 68, % 6.32% 991,108 0 (67,960) $4.64 B/C ,473 1, % % 1, % 0.64% 711,323 4,048 20,719 $4.85 Total 65 1,772,505 70, % % 70, % 3.90% 1,702,431 4,048 (47,241) $4.67 REDWOOD SHORES A 49 5,411, , % 38, % 465, % 8.81% 4,946,728 11,720 26,052 $5.13 B/C ,258 36, % % 36, % 9.62% 305,106 (3,334) (8,932) $4.47 Total 62 5,753, , % 38, % 501, % 8.86% 5,251,834 8,386 17,120 $5.09 SAN MATEO A 38 4,148, , % 48, % 339, % 10.78% 3,809, , ,385 $5.08 B/C 177 4,882, , % 202, % 599, % 8.82% 4,282,089 (192,710) (39,499) $4.62 Total 215 9,030, , % 251, % 939, % 9.72% 8,091,449 (84,895) 78,886 $4.80 FOSTER CITY A 17 3,103, , % 14, % 424, % 13.33% 2,678,640 (11,049) (58,371) $5.22 B/C ,149 48, % % 48, % 7.67% 717, ,974 $4.84 Total 48 3,869, , % 14, % 473, % 12.36% 3,396,415 (10,376) (56,397) $5.20 BURLINGAME A , , % 25, % 219, % 10.09% 638,881 (139,461) (127,721) $5.65 B/C 83 2,084,987 80, % % 80, % 4.74% 2,004,920 17,001 35,120 $3.60 Total 93 2,943, , % 25, % 299, % 6.22% 2,643,801 (122,460) (92,601) $5.50 SAN BRUNO/MILLBRAE A 9 1,159, % 5, % 5, % 0.43% 1,154, ,365 $3.00 B/C ,360 2, % % 2, % 0.84% 666,488 2,619 7,366 $3.10 Total 43 1,828,555 2, % 5, % 7, % 0.58% 1,820,683 2,619 20,731 $3.06 DALY CITY A 3 505, , % % 103, % 18.95% 402,961 (7,133) (4,780) $3.97 B/C ,450 9, % % 9, % 2.41% 445,369 1,867 8,873 $3.11 Total , , % % 112, % 11.12% 848,330 (5,266) 4,093 $3.90 SOUTH SAN FRANCISCO A 17 3,079, , % % 186, % 6.12% 2,892,651 1,690 23,157 $5.46 B/C 53 1,193,009 15, % % 15, % 2.14% 1,177,956 (1,220) 4,414 $4.20 Total 70 4,272, , % % 201, % 5.01% 4,070, ,571 $5.43 BRISBANE A 5 667,067 24, % % 24, % 8.04% 642,437 28,972 28,972 $4.11 B/C 6 147,303 34, % % 34, % 26.09% 112,534 3,658 (31,111) $2.80 Total ,370 59, % % 59, % 11.30% 754,971 32,630 (2,139) $3.18 SAN MATEO COUNTY MARKET TOTAL A ,078,449 1,759, % 133, % 1,893, % 7.31% 24,184,582 (22,843) (29,646) $5.44 B/C ,239, , % 212, % 1,040, % 5.01% 16,199,328 (218,797) 1,918 $4.93 Total ,318,239 2,587, % 346, % 2,934, % 6.39% 40,383,910 (241,640) (27,728) $5.31 QUARTERLY COMPARISON AND TOTALS ,318,239 2,587, % 346, % 2,934, % 6.39% 40,383,910 (241,640) (27,728) $5.31 Q ,168,349 2,535, % 223, % 2,758, % 6.86% 40,409, , ,912 $5.14 Q ,161,003 2,702, % 259, % 2,962, % 7.10% 40,198,236 45,686 45,686 $5.18 Q ,007,491 2,599, % 382, % 2,981, % 7.29% 39,025,569 66,431 (377,035) $ ,013,770 2,652, % 410, % 3,063, % 6.92% 38,950,273 (271,395) (443,466) $5.07 *THE SOUTH PENINSULA CITIES OF MOUNTAIN VIEW, LOS ALTOS, AND PALO ALTO ARE FOR REFERENCE PURPOSES AS THEY ARE NOT INCLUDED IN THE SAN MATEO COUNTY MARKET TOTALS. 6 San Francisco Peninsula Research & Forecast Report Colliers International

7 MARKET COMPARISONS R&D MARKET BLDGS TOTAL INVENTORY DIRECT DIRECT SUBLEASE SUBLEASE TOTAL CURRENT QUARTER PRIOR QUARTER CURRENT OCCUPIED CURRENT NET ABSORPTION NET ABSORPTION YTD WEIGHTED AVG ASKING RENTAL (NNN) SOUTH PENINSULA* MOUNTAIN VIEW ,046, , % 186, % 542, % 2.61% 13,503,981 (188,981) (306,752) $3.92 PALO ALTO 100 5,238,629 47, % 73, % 121, % 1.23% 5,117,476 47,169 74,526 $6.49 SAN MATEO COUNTY MENLO PARK 75 4,290, , % 13, % 149, % 3.59% 4,141,247 5,117 (48,379) $4.40 REDWOOD CITY/REDWOOD SHORES 73 2,476,391 45, % 14, % 59, % 1.08% 2,416,487 (33,270) (52,065) $3.05 BELMONT/SAN CARLOS 51 1,705,989 14, % % 14, % 2.84% 1,691,069 33,486 11,697 $3.28 SAN MATEO/FOSTER CITY 62 1,600, % % % 0.00% 1,600, $0.00 SAN BRUNO/MILLBRAE/BURLINGAME , % % % 0.91% 838,485 7,600 (12,607) $1.52 SOUTH SAN FRANCISCO/BRISBANE ,071, , % 35, % 425, % 2.05% 17,645,776 (54,616) (255,488) $4.31 SAN MATEO COUNTY MARKET TOTAL Total ,071, , % 35, % 425, % 2.05% 17,645,776 (54,616) (255,488) $4.31 QUARTERLY COMPARISON AND TOTALS ,071, , % 35, % 425, % 2.05% 17,645,776 (54,616) (255,488) $4.31 Q ,071, , % 21, % 370, % 1.80% 17,700,658 (66,463) (200,872) $3.73 Q ,079, , % % 324, % 1.08% 17,754,337 (134,409) (134,409) $3.79 Q ,824, , % % 192, % 1.22% 17,631,627 25,662 82,920 $ ,811, , % 24, % 218, % 2.59% 17,593, ,776 57,258 $3.29 INDUSTRIAL MARKET SOUTH PENINSULA* MOUNTAIN VIEW 114 1,588,183 64, % % 64, % 2.79% 1,523,391 14,666 (2,933) $3.36 SAN MATEO COUNTY MENLO PARK 81 2,418,610 58, % % 58, % 3.40% 2,360,313 24,000 (20,546) $3.90 REDWOOD CITY 184 4,194,440 35, % % 35, % 1.07% 4,158,594 9,112 64,440 $1.93 BELMONT/SAN CARLOS 233 6,104,593 34, % % 34, % 0.57% 6,070, ,565 $1.93 SAN MATEO/FOSTER CITY 76 1,393,882 74, % % 74, % 5.38% 1,318,956 0 (38,947) $1.50 BURLINGAME 139 3,998,644 72, % % 72, % 3.10% 3,925,730 50,858 (41,763) $1.63 SAN BRUNO/MILLBRAE , % % % 0.00% 678, $0.00 BRISBANE/DALY CITY 104 5,280, , % % 150, % 0.00% 5,129,712 (150,507) (150,507) $0.00 SOUTH SAN FRANCISCO ,323, , % % 175, % 1.50% 15,148,103 54,503 17,054 $1.18 SAN MATEO COUNTY MARKET TOTAL Total 1,231 39,407, , % 30, % 660, % 1.53% 38,747,300 (92,601) (243,305) $1.49 QUARTERLY COMPARISON AND TOTALS -18 1,231 39,407, , % 30, % 660, % 1.53% 38,747,300 (92,601) (243,305) $1.49 Q2-18 1,231 39,392, , % % 602, % 1.50% 38,790,025 (11,854) (150,704) $1.48 Q1-18 1,231 39,436, , % % 590, % 1.11% 38,845,664 (138,850) (138,850) $1.47 Q4-17 1,230 39,318, , % 28, % 435, % 1.64% 38,883, , ,307 $ ,229 39,291, , % 70, % 643, % 1.60% 38,647,635 (24,450) 44,216 $1.44 *THE SOUTH PENINSULA CITIES OF MOUNTAIN VIEW, LOS ALTOS, AND PALO ALTO ARE FOR REFERENCE PURPOSES AS THEY ARE NOT INCLUDED IN THE SAN MATEO COUNTY MARKET TOTALS. 7 San Francisco Peninsula Research & Forecast Report Colliers International

8 69 countries $2.7 billion in annual revenue 2.0 billion square feet under management MARKET CONTACT: Rick Knauf Executive Managing Director CA License No Nicholas Matera Research Analyst EDITOR & DESIGNER: AngeLin Vu Senior Graphic Designer 15,400 professionals and staff $116 billion in total transaction value CONTRIBUTING AUTHORS: Mike Cobb Senior Vice President Mike Davis, SIOR Senior Vice President COLLIERS INTERNATIONAL REDWOOD CITY 203 Redwood Shores Parkway, Suite 125 Redwood City, CA USA colliers.com/redwoodcity *All statistics are for, are in U.S. dollars and include affiliates. About Colliers International Group Inc. Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world s most respected institutional real estate investors. Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row. Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years. For the latest news from Colliers, visit Colliers.com or follow us on and LinkedIn. colliers.com/redwoodcity Copyright Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.