CFAH

Articles Filed Under: Commercial

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Office Space For Sublease And Unemployment Up In San Francisco

From J.K. Dineen at the San Francisco Business Times with respect to office space: San Francisco tenants unloaded another 250,000 square feet of unwanted office space onto the market in January, as employers slashed workers and pushed to generate sorely needed cash by subleasing floors in Class A downtown... Read More »

Jones Lang LaSalle Office Outlook For San Francisco And The Valley

Jones Lang LaSalle Office Outlook For San Francisco And The Valley

The Jones Lang LaSalle outlook for office space in San Francisco: Downsizing companies paired with sluggish tenant demand will cause downward pressure on rental rates to gain momentum in 2009. Rising vacancy rates, barring an unexpectedly rapid recovery, market fundamentals in 2009 will be downward trending as negative net... Read More »

Pro Forma Problems: Find Commercial, Replace With Residential?

From J.K. Dineen at the San Francisco Business Times: Downtown San Francisco’s weakest year for commercial real estate since 2001 ended with a whimper, with the central business district losing another 1.3 million square feet of occupied space in the fourth quarter of 2008. For the year, San Francisco’s... Read More »

Drinking Might Be On The Rise, But Martini Park San Francisco Is Not

Drinking Might Be On The Rise, But Martini Park San Francisco Is Not

A plugged-in (and observant) reader reports: There has been a sign at Rincon Center for the past 4-6 months saying that a Martini Park bar will be opening in late Fall 2008. Of recent, there is a “for lease” sign in one of the windows (Spear Street side). There... Read More »

Doesn’t Everybody Want To Work Here? (Class A Rents Plunge)

“A new Colliers International report found weighted average rents in the financial district dropped from $56.17 to $41.34 a square foot during the , a 26.4 percent decline. Across the entire San Francisco market, Class A average rents dropped even more — 28.2 percent from $55.65 to $39.79... Read More »

San Francisco Firms Continue To Shed And Sublease Office Space

“Cost-cutting tenants have dumped 1.2 million square feet of unwanted office space on the sublease market since July 1, the latest sign that San Francisco’s economy is slowing amid a national recession and credit crisis. The trend has accelerated over the last 60 days as some 170 companies sought... Read More »

Harding Theater (616 Divisadero): Developer Throwing In The Towel?

Harding Theater (616 Divisadero): Developer Throwing In The Towel?

Last week a plugged-in tipster noted for sale signs had been hung, and this weekend 616 Divisadero (a.k.a. the Harding Theater) hit the MLS listed for $4 million. In the words of another tipster, “After years of paying debt service and battling with the planning board, the developers of the... Read More »

JustQuotes: As Come Commercial Realities, Will Go Residential?

“Next year, we’re going to have the sublease swap meet of the century,” said David Klein, a partner with San Francisco brokerage firm NAI BT Commercial. “Sublessors competing for the same tenant (will) all say, ‘I can do the deal cheaper than you,’ and the landlords will be playing... Read More »

A Body Bio Blow To Mission Bay Development: Alexandria Delays Two

From the San Francisco Business Times: Alexandria Real Estate Equities will delay starting construction on two buildings at its Mission Bay biotech campus, despite having tenants willing to lease at least 200,000 square feet, company Chairman and Chief Executive Officer Joel Marcus told analysts during an earnings call. Marcus... Read More »

Brugnara Properties Headquarters Headed For Foreclosure?

From a plugged-in tipster today: 351 California is one of the Dollar buildings (forgot which one), later the Pacific Bank Building, and currently the HQ Brugnara Properties. Luke Brugnara is one of the most storied characters in the commercial real estate scene. The building is scheduled for the... Read More »