Home > Research > U.S. Market Reports Detail

San Francisco Market Reports

San Francisco Office Market

Average Asking Rent (Price/SF) $83.55
Vacancy Rate (%) 3.2%
Net Absorption (SF) 560,331

First-quarter availability of 6.6 million square feet effectively equaled demand of 6.6 million square feet. The Class A availability rate dropped 40 basis points to 7.2%. Additionally, overall vacancy rates continued to fall, dropping 20 basis points to 3.2%, while Class A vacancy dropped 10 basis points to 2.6%. South Financial District was the tightest submarket, with overall vacancy of 2.1% and Class A vacancy of 1.7%. Rents increased slightly in the first quarter, growing by 1.3% marketwide to an average of $83.55/SF, a year-over-year increase of 9.2% or $7.05/SF. Class A rates increased by 9.0% year-over-year to $87.18/SF from $80.00/SF. Absorption was robust in the first quarter at 560,331 square feet, as more of the space in the pre-leased new developments was occupied.

San Francisco Office Market Report
Download the PDF

Local Market Contact:

General Research Inquiries: