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San Francisco Office Vacancy Rate Doubled in 2nd Quarter

Sep 1, 2020 | Posted by Jeff Weil | Bay Area Housing, California Economics, Commercial and Business Insurance, Commercial Real Estate, Commercial Tenant Improvement Contractor, Newsletter, Office Space, Technology, Tips for Tenants, Trends, U.S. Economics |

San Francisco now has an estimated 6.5 million square feet of office sublease space. Direct Class A rents are still among the highest in the country, averaging $84 an annual square foot, but Class B rates are now in the $50-60/rsf range. In the Bay Area several companies have announced they will relocate their headquarters . Palantir, based in Palo Alto, is moving to Denver, and Zorrosign is moving from S..F. tp Phoenix. California is also trying to pass a tax on net worth’s over $30 million. 17% of all U.S. millionaires and 25% of the nation’s billionaires currently live in California.  Killiing the golden goose will surely affect the future laying of golden eggs…

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Jeffrey Weil, CCIM, MCR.h, SIOR

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Contact Information

  • Jeffrey Weil
  • Colliers International
  • 1850 Mount Diablo Blvd., suite 200
  • CA Lic. 00786195
  • +1 (925) 279 5590
  • jeff.weil@colliers.com
  • www.officetimes.com

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