Such a resurgence would be good news for The City’s economy, which has struggled amid the rise of remote work
San Francisco ’s office market did hit a new vacancy record in the third quarter, but the numbers were significantly better than preliminary figures released last month, with relatively strong leasing activity slowing the tide, according to the real-estate firm CBRE .
The City’s office vacancy rate hit 36.9% for the quarter, up just 0.1 percentage points over the second quarter, CBRE said. Preliminary indicators had been that the quarter would end half-a-percentage point up, the company had earlier reported. Muni funding effort author to supporters: Don’t vote on business-tax reform Prop. L, which would tax Uber and Lyft to fund Muni, needs more votes than Prop. M to take effect
Of that square footage, 62% were new direct leases, 23% were renewals and 15% were subleases, with 87% of the leased area in Class A buildings.
Cbre San Francisco Office Vacancies Office-Vacancy Rate Downtown San Francisco Downtown Recovery
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