San Francisco Office Market
| Average Asking Rent (Price/SF) | $76.77 |
| Vacancy Rate (%) | 18.4% |
| Net Absorption (SF) | -790,843 |
The second quarter of 2022 was punctuated by three lease transactions over 100,000 square feet, and leasing has steadily increased so far this year. At the same time, however, overall availability and vacancy increased to near-record levels. Absorption for the quarter was negative 790,843 square feet, for a total of negative 1.3 million square feet for the first half of the year. Vacancy is now at 16.3 million square feet or 18.4%, the highest rate in 19 years. Overall availability increased to 27.7% of the market, or 24.5 million square feet.
Download San Francisco Office Market Report 2Q22