Cbre — Q4 2025 Earnings Presentation

4 slides from Cbre's earnings presentation, 2026

Slide 1: Development pipeline halts and tenant demand shifts
FIGURES | SAN FRANCISCO PENINSULA R&D | Q4 2025 FIGURES | SAN FRANCISCO PENINSULA R&D | Q4 2025 Development pipeline halts and tenant demand shifts 24.6% 1.1M 268K $6.12 3.7% Vacancy Rate Sq. Ft. Net Absorption (SF) Sq. Ft. Under Construction & NNN / Lease Rate Unemployment Rate Conversion Existing
Slide 2: R&D Overview
FIGURES | SAN FRANCISCO PENINSULA R&D | Q4 2025 R&D OVERVIEW The San Francisco Peninsula market base ended 2025 with 42.4 msf of R&D/Life Science space. Vacancy and availability started to stabilize as R&D occupancy FIGURE 2: Submarket Statistics recuperated and preleased Life Science projects deliv
Slide 3: Notable lease and sale transactions, lease rates, completions
FIGURES | SAN FRANCISCO PENINSULA R&D | Q4 2025 FIGURE 3: Notable Lease Transactions Q4 2025 FIGURE 5: Lease Rates FIGURE 7: Construction Completions Sq. Ft. Leased Asking Rate (000’s) Tenant Location Type ($/SF) Total Life Science R&D Sq. Ft. 8.00 3,500 Confidential Stanford Research Park 362,434 R
Slide 4: Submarket Map, Definitions, Contacts
FIGURES | SAN FRANCISCO PENINSULA R&D | Q4 2025 Submarket Map Definitions Average Asking Rate Direct Monthly Lease Rates., Triple Net (NNN). Availability All existing space being marketed for lease. Total Vacancy Rate Direct Vacancy + Sublease Vacancy. R&D inventory is typically low-rise constructio