{"id":1004241704,"date":"2018-08-07T05:13:44","date_gmt":"2018-08-07T13:13:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004241704"},"modified":"2025-02-26T02:41:34","modified_gmt":"2025-02-26T10:41:34","slug":"deliveries-to-test-thriving-san-francisco-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/deliveries-to-test-thriving-san-francisco-market\/","title":{"rendered":"Deliveries to Test Thriving San Francisco Market"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004241710\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004241710\" data-attachment-id=\"1004241710\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/deliveries-to-test-thriving-san-francisco-market\/office-using-employment-in-san-francisco-click-to-enlarge-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Office-using employment in San Francisco, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Office-using employment in San Francisco, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004241710\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg\" alt=\"Office-using employment in San Francisco, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004241710\" class=\"wp-caption-text\">Office-using employment in San Francisco, click to enlarge<\/p><\/div>\n<p>San Francisco\u2019s office market continues to be bolstered by major companies willing to pay a premium to be in the country\u2019s largest tech-driven metro, counteracting smaller players\u2019 shift to less expen\u00adsive areas. Dropbox and Okta are expected to move into their new corporate headquarters in Fall 2018. The two companies will occupy a combined 1 million square feet in SOMA and South Financial District. Meanwhile, Blue Shield of California joined a growing list of small and medium-size firms priced out of San Francisco. The health plan pro\u00advider will relocate more than 1,000 employees to its new headquar\u00adters in Oakland.<\/p>\n<p>Despite a slowdown in development activity over the last three years, office absorption remained well above the national average. However, more than 4.6 million square feet is scheduled for completion by the end of this year. The spike in deliveries will test the market\u2019s ability to maintain tenant interest, as prices keep going up at a fast pace in most established submarkets.<\/p>\n<p>Some 26,000 jobs were added year-to-year through February. Office-using jobs account for 39.3 percent of San Francisco\u2019s total employment pool of 1.1 million jobs. This is the highest level recorded in the metro.<\/p>\n<p>Core urban submarkets continue to attract investors. The South Fi\u00adnancial District has emerged as the most expensive submarket, with an average of $1,498 per square foot, surpassing the well-established North Financial District and South San Francisco.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/461-SanFrancisco-Spring2018OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=461-SanFrancisco-Spring2018OfficeOutlook\" target=\"_blank\" rel=\"noopener\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>San Francisco\u2019s office market continues to be bolstered by major companies willing to pay a premium to be in the country\u2019s largest tech-driven metro, counteracting smaller players\u2019 shift to less expensive areas. <\/p>\n","protected":false},"author":753,"featured_media":1004258369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21747,1609,15],"tags":[],"class_list":["post-1004241704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-office","category-san-francisco","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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