San Francisco Office Vacancy Predicted to Dramatically Reduce Due to AI Leasing

Bisnow May 29, 205, according to a CBRE report, “Artificial intelligence (AI) development likely will be a sizable driver of U.S. office demand over the next decade considering the impact it is already having on the country’s tech epicenter of San Francisco. AI-related companies have leased more than 5 million sq. ft. of San Francisco office space over the past five years and are projected to take up to 16 million sq. ft. between now and 2030 or 2.7 million sq. ft. annually.” My opinion, which I’ve published over and over for many months now, is that along with the growth of AI firms will come the continuing downsizing of Corporate America’s office space usage. Companies can get way more done now with way fewer employees and this trend will continue.