CFAH

According to real estate research firm Reis Inc. by way of Bloomberg: “San Francisco’s average office rent rose 6.8 percent during the past year. A slow recovery in financial services held New York to the second-biggest gain, 4.8 percent…Rents climbed 4.1 percent in San Jose, 2.5 percent in Boston and Houston, and 2.3 percent in Denver and Seattle.”
Also according to Reis, San Francisco had the eighth-lowest commercial vacany rate in the U.S. at 14.2 percent versus 9.4 percent in Washinton (the lowest) and 10.4 percent in New York (the second lowest).
As we noted last month, the office vacancy rate South of Market in San Francisco has dipped below nine percent, down from 25.5 percent in 2009.
San Francisco Leads Rent Growth as U.S. Office Vacancies Decline [Bloomberg]
The Latest Fad Sweeping Through SoMa [SocketSite]

Comments from Plugged-In Readers

  1. Posted by JB

    Wait – occupancy rate or vacancy rate?
    [Editor’s Note: Sorry, vacancy all around and since corrected above.]

  2. Posted by sfcommie

    Looking at the craigslist, it feels more like 50%. You can count on one less inhabitant — I was gonna return to SF this summer, but I think I’ll stay where I am for now. Amazing how well the free market works..

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