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San Francisco Market Reports

San Francisco Office Market

Average Asking Rent (Price/SF) $76.50
Vacancy Rate (%) 5.2%
Net Absorption (SF) 748,259

More than 20 tenants are looking for blocks of space of 100,000 square feet or greater, with a combined total demand of more than 2.9 million square feet. These large requirements outpace current large block availabilities by more than 500,000 square feet. WeWork signed the largest lease of the quarter, taking 251,000 square feet at 400 California Street and expanding its footprint here to greater than 1.0 million square feet. Large leases were also signed by Federal Home Loan Bank, which will be moving into nearly 200,000 square feet at 333 Bush Street in 2019; Covington & Burling, which will be moving to 78,414 square feet at Salesforce Tower in 2019; Samsara, which will be moving into 71,482 square feet at 350 Rhode Island Street; and Pattern Energy, which will be moving into the entire 61,364-square-foot building at 1088 Sansome Street. Additionally, Stitch Fix renewed and expanded into 134,000 square feet at One Montgomery Street, and Google subleased Gensler's former 57,259-square-foot space at 2 Harrison Street.

San Francisco Office Market Report
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