San Francisco Office Demand is Back in a Big Way; Highest Occupancy Gains in Years

“Overall vacancy closed Q1 at 28.7%, marking the largest quarterly decline since Q3 2019. San Francisco recorded its largest quarterly net occupancy gain in more than six years.” Derrick Daniels, Regional Research Director for Colliers International shared with me his latest findings. Currently ter ear 227 companies looking for over 7,500,000 square feet of San Francisco office space, most of this for a 2026 occupancy. Of this total, 4,500,000 square feet is tech, and of that, 2.6 million square feet  are of AI requirements. As this also includes tenants considering renewing it is not all new requirements. Other major commercial real estate companies have estimates from 7 to 10 million square feet of office requirements in San Francisco.