San Francisco Office Market
|Average Asking Rent (Price/SF)||$78.10|
|Vacancy Rate (%)||16.8%|
|Net Absorption (SF)||56,611|
In the third quarter, San Francisco experienced positive absorption at 56,611 square feet. This is the first bit of positive absorption the market has seen in six consecutive quarters; however, this number does not rival the year-to-date net absorption, at -4.0 million square feet. Availability saw a slight decrease of 455,192 square feet, for a drop of 80 basis points to 24.1%. Sublease space saw an 857,917-square-foot decrease in availability during the third quarter, to a total of 7.3 million square feet, or 34.7% of the total available space on the market.
Download San Francisco Office Market Report 3Q21