The San Francisco Bay Separates a Tale of Two Cities
San Francisco’s office market continues to roll along, with the vacancy rate dropping to 25% (I remember not too long ago when it was a reportedly 32%) with 3.7 million square feet of net absorption so far in 2026. Meanwhile across the Bay Block has just placed 361,000 square feet of office space on the sublease market, with a lease expiration of 2031, in the Uptown Station, a former Capwell’s Department store building at 20th and Broadway that was converted years ago into office space. Oaklands office vacancy rate is currently 29%.
