According to Colliers International retail broker Ross Portugeis, “San Francisco’s retail vacancy rate leaped in the past year from 3 or 4 percent to 12 or 13 percent” but Portugeis feels the market started stabilizing in May. As always, time and SocketSite will tell.
And according to Edward Plant of Edward Plant Co. Inc. which specializes in leasing San Francisco retail space, the strongest markets/streets currently include Chestnut, Castro and Hayes, while the weakest include Union, Fillmore and Valencia.
No mention of the numerous still vacant retail spaces in new developments across town.
Empty stores boost lease deals [San Francisco Examiner]

Comments from “Plugged-In” Readers

  1. Posted by viewlover

    one of the weakest is Valencia. Hmm, glad to hear that the voters are getting what they wanted.

  2. Posted by jules

    Would restrictions on chain stores be adding to this situation?

  3. Posted by adk

    Unlikely, more like the 10 thousand unnecessary nail salons and “spas” on union/fillmore… Valencia just got nuts in terms of gentrified new biz’s that the neighborhood now can’t support.

  4. Posted by kooldr

    Sutter St. from Market to Stockton has 6+ vacant
    street level commercial spaces. Is this considered
    average?

  5. Posted by whatever

    Where are in SF are they paying rent of $540/sf? Curious about this “prime retail space”.

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