Office Sublease Space Beginning to Flood San Francisco

According to a recent Savills Research report, over the past several months since the shelter-in-place shutdown of office buildings there has been a 300% increase in office sublease availability, with over 3.7 million square feet of space currently available. “It is likely that sublease space will increase further – placing downward pressure on overall asking rents.”  My opinion: many companies are reevaluating their long-term occupancy strategies for housing their employees realizing that until there is a vaccine social distancing and less office density will be a must, and there is also the scary but real thought out there that this may not be the last pandemic we see in our lifetime and this must be taken into account when planning office space long-term.