Downtown San Francisco Prime View Office Space Vacanacy at 7%!

Move-in prime view space vacancy even lower at 2.8%, while the overall vacancy rate for San Francisco office space is 28%, way down from when it was 35% just a few years ago. Overall for all classes of office space there are currently almost 28 million square feet of vacant space, 27.8 million out of a total inventory of 99 milliion square feet. Overall commercial real estate deliquency declined to 7.85%, but office is still the most distressed property with a deliquency rate rising to 12%. “Maturity defaults continue to dominate, with non-performing matured balloon loans accounting for 81% of newly delinquent balances.” Steig Seaward, Senior Director, National Colliers Research