San Francisco Office Market
|Average Asking Rent (Price/SF)||$77.94|
|Vacancy Rate (%)||14.9%|
|Net Absorption (SF)||-2,236,424|
San Francisco experienced another large drop in absorption, at negative 2.2 million square feet, largely due to both sublease and coworking space being recaptured. Availability increased 300 basis points during the first quarter of 2021 to 23.7%. Sublease space saw a 406,972-square-foot increase in availability during the first quarter, which increased to a total of 9.0 million square feet, or 44.1% of the total available space on the market.
Download San Francisco Office Market Report 1Q21