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The San Francisco office market started 2024 stronger than any quarter since 2020 with positive net absorption, primarily fueled by OpenAI’s sublease occupancy of 486,000 square feet in Mission Bay, and more tenants looking to secure new office space.
Find out the latest economic and Office trends impacting the San Francisco metro. Includes graphs and forecasts for the employment market and Office property performance.
11 Απρ 2024 · San Francisco Office Market Research Report | Q1 2024. Download Report. By Derek Daniels. Apr 11, 2024. City's Largest Users Slow Pace of Shedding Space as Right-Sizing Appears to Reach Equilibrium. Macroeconomic market conditions and hybrid work continued to impact the office market.
San Francisco office market trends. $279 psf. Office pricing reaches lowest point in 12 years. Mounting debt, interest rates, and increasing vacancy have weighed down pricing in San Francisco, causing properties to sell at significantly discounted rates not witnessed since 2011.
San Francisco office market report. Q1 2024. San Francisco office market trends. $132M. Low sales volume outlines continued pricing disparity. The increasing cost of capital due to mounting debt, high interest rates, and increasing vacancy have continued to weigh down asset pricing in San Francisco.
In Q1 2024, the total availability rate in the San Francisco office market decreased 40 basis points (bps) from 36.7% reported at year-end 2023 to 36.3% . While this remains near a historic high, there is cautious optimism again that companies are slowly getting their employees back into the office while nascent verticals such as
Amid greater shakeup, new companies show interest. No other U.S. office market has been as profoundly impacted by the COVID-19 pandemic as San Francisco, with vacancy exceeding 30 percent in central areas, including the Financial District.
