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San Francisco Market Reports

San Francisco Office Market

Average Asking Rent (Price/SF) $79.16
Vacancy Rate (%) 3.9%
Net Absorption (SF) 941,891

The combination of a vacancy rate not seen since the dot.com era with the highest tenant demand in seven years has resulted in an extremely competitive market. Currently, tenant demand of 7.6 million square feet outpaces availability at 7.4 million square feet. The 22 tenants seeking blocks of space of 100,000 square feet or greater make up 3.2 million square feet of the current demand, but there are currently only ten existing buildings with available blocks greater than 100,000 square feet, many of which have leases pending. Large block pricing has increased to the low $90s/PSF, which is 12 to 15 percent higher than the market average.



San Francisco Office Market Report
3Q18
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