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San Francisco Market Reports

San Francisco Office Market

Average Asking Rent (Price/SF) $73.13
Vacancy Rate (%) 5.7%
Net Absorption (SF) -154,810

Continuing the 2017 trend, several leases greater than 100,000 square feet were signed in the fourth quarter of 2017, most notably the largest lease ever signed in San Francisco: Dropbox's 736,000-square-foot lease at the Exchange at 1800 Owens Street. A total of 20 leases over 100,000 square feet were signed in 2017, more than twice the annual average between 2007 and 2016. Despite the number of large requirements that have been satisfied, demand for large space remains strong. Thirty-two tenants were seeking at least 50,000 square feet as of the end of the year, and these large tenant requirements totaled 3.0 million square feet.

San Francisco Office Market Report
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