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San Francisco Office Market Update

Mar 5, 2021 | Posted by Jeff Weil | California Economics, Commercial Real Estate, Newsletter, Office Furniture, Office Space, Real Estate Landlords, Sublease, The Office Market, Trends, Trends for Office Tenants, Workspace |

Yesterday I was on a very enlightening Zoom call with my San Francisco Colliers associates. The office market is seeing landlords hold firm on their asking rents, and there are still Class A office leases happening in the $100/rsf annual price range, per square foot. The top ten buildings have less than 10% vacancy so there is little pressure to discount rents, and landlords feel the market will come back sooner rather than later.  The sublease market accounts for roughly 9% of the space, direct accounts for 7-8% for a total vacancy rate of 16%.  In the past the group was doing 5-6 tours a day and now there are doing 1-2 tours a day. There have been 303 sublease spaces come on the market, 230 of which are in the 5-25,000 square foot range. Any office leasing or subleasing needed, just let me know!

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Jeffrey Weil, CCIM, MCR.h, SIOR

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Contact Information:

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  • 1850 Mt. Diablo Blvd., Suite 200
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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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