San Francisco's office vacancy challenges continue, with the rate seeing a slight increase due to Elon Musk's decision to sublease X's Mid-Market headquarters.
A new study from real estate company Cushman & Wakefield shows that since the stay at home orders were put into place and people began working at home, office vacancy rates have skyrocketed to 14.1% at the end of September. SAN FRANCISCO - The number of vacant offices in San Francisco...
"We're close to 24% vacancy for office space in the city," said Matt Regan, Vice-President of the Bay Area Council. Regan says that is a new high for San Francisco, "We didn't see numbers that high after the financial collapse or after the dot-com bust, so these are pretty unchar...
Likewise, Los Angeles experienced an increase from 22.9% to 26.2%, while San Francisco, currently holding the nation’s highest vacancy rate at 32.5%, saw an increase from 24.1% in 2022. In fact, San Francisco experienced the highest amount of negative absorption (i.e., previously occupied ...
Artificial intelligence has been a big boon for San Francisco real estate. But not enough of one to make up for the broader struggle across the market. The vacancy rate for San Francisco office space reached a fresh record of 34.5% in the second quarter, according to a report Monday from ...
it is clear that vacancy has remained elevated across many markets throughout the Q2, and some are continually registering record highs. In the tech hub of San Francisco, the vacancy rate grew toa record 37%, up from 36.4% in the prior quarter. Though the growth of AI companies has helped...
Besides domestic cities, over the past three years, office vacancy rates have been on the rise in major global cities like New York City and London. According to McKinsey's data, over the past three years, office vacancy rates in major global cities such as San Francisco, London, New York...
Office vacancy rates soar in Silicon Valley, San Francisco.(Knight Ridder Newspapers)McAllister, Sue
The worst affected US metropolitan area is San Francisco, which has seen a sharp fall in demand for office space ascompanies have downsized or moved to other parts of the country. Between the last quarter of 2019 and the first quarter of 2023, office vacancy rates in the Californian tech hu...
as San Francisco, London, New York City, Houston, Paris, Munich, and Tokyo have all shown an upward trend. Among them, San Francisco saw the highest increase at 12.9%, followed by London at 10.1%, while Paris and Munich had the lowest vacancy growth rates at 2.3% and 2.5%, ...