Your Commercial Real Estate Source in the San Francisco Bay Area
Another report, this one focusing on the past deals that have closed in the San Francisco Office market. Everything looks good as office vacancy continues its downward spiral in nothingness. Larger contiguous space is virtually non-existent in the hot areas such as the downtown and Soma districts. Here’s an excerpt from the report:
The San Francisco office market continues to attract tenants and investment from across the nation and around the globe. Technology continues to be the primary driver of tenant demand throughout the city, although professional services and life science activity appears to be increasing. Despite a slowdown in lease velocity this quarter, tour activity remains high, with a number of significant requirements in the market for large blocks of space. The office market is in a holding pattern as new construction starts and new buildings come on line, with tenants waiting to see what rents will do and landlords trying to push the envelope for higher rents.
Read entire report here: http://kiddermathews.com/downloads/research/office-market-research-san-francisco-2013-2q.pdf