{"id":1004323184,"date":"2019-05-14T03:53:39","date_gmt":"2019-05-14T11:53:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004323184"},"modified":"2022-08-08T22:25:50","modified_gmt":"2022-08-09T06:25:50","slug":"san-francisco-office-report-spring-2019","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-report-spring-2019\/","title":{"rendered":"San Francisco Office Report \u2013 Spring 2019"},"content":{"rendered":"<div id=\"attachment_1004323190\" style=\"width: 460px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004323190\" data-attachment-id=\"1004323190\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-report-spring-2019\/office-using-employment-in-san-francisco-click-to-enlarge-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/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\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004323190\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg\" alt=\"Office-using employment in San Francisco, click to enlarge\" width=\"450\" height=\"193\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Office-using-employment-in-San-Francisco-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/a><p id=\"caption-attachment-1004323190\" class=\"wp-caption-text\">Office-using employment in San Francisco, click to enlarge<\/p><\/div>\n<p>San Francisco\u2019s market fundamentals remain strong. The metro\u2019s economy continues to expand steadily as a center of the technology and financial industries, and it remains a destination for a young, educated workforce. That said, the metro also faces pressures as the high costs and difficulty of adding new space have led to the outmigration of companies and talent. While key employers such as Facebook and Salesforce are expanding workforces, other large companies have announced plans to shift operations to less expen\u00adsive metros around the country.<\/p>\n<p style=\"text-align: left;\"><a style=\"display: inline-block; padding: 5px 24px; border: 0; border-radius: 6px; font-weight: bold; letter-spacing: 0.0625em; text-transform: uppercase; background: #960505; color: #ffffff; text-decoration: none;\" href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/687-SanFrancisco-Winter2019OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=687-SanFrancisco-Winter2019OfficeOutlook\" target=\"_blank\" rel=\"noopener\">READ THE FULL YARDI MATRIX REPORT<\/a><\/p>\n<p>San Francisco continues to have a love-hate relationship with develop\u00adment. Despite low vacancy rates and high demand, the area\u2019s regula\u00adtory environment places limits on new construction. New supply is on the upswing, as developers added a cycle-high 4.2 million square feet to the metro\u2019s office inventory in 2018. Demand is such that nearly all of the new inventory was fully leased upon completion. Set to ease the pressure caused by low vacancies, nearly 6 million additional square feet is anticipated to deliver before the end of the year. Further, the San Francisco government approved the large-scale, mixed-use Cen\u00adtral SoMa Plan, which will drive further development in the city.<\/p>\n<div id=\"attachment_1004323193\" style=\"width: 460px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004323193\" data-attachment-id=\"1004323193\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-office-report-spring-2019\/employment-growth-by-sector-in-san-francisco-click-to-enlarge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-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=\"Employment growth by sector in San Francisco, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Employment growth by sector in San Francisco, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004323193\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg\" alt=\"Employment growth by sector in San Francisco, click to enlarge\" width=\"450\" height=\"193\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Employment-growth-by-sector-in-San-Francisco-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 450px) 100vw, 450px\" \/><\/a><p id=\"caption-attachment-1004323193\" class=\"wp-caption-text\">Employment growth by sector in San Francisco, click to enlarge<\/p><\/div>\n<p>The metro has among the highest rents in the country, as the average asking price for Class A space is near $70 per square foot, driven by a combination of low vacancy rates, government development con\u00adstraints and a newly imposed office tax. The metro remains in high demand among domestic and foreign investors.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/687-SanFrancisco-Winter2019OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=687-SanFrancisco-Winter2019OfficeOutlook\" target=\"_blank\" rel=\"noopener\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The metro\u2019s economy continues to expand steadily as a center of the technology and financial industries, and it remains a destination for a young, educated workforce. <\/p>\n","protected":false},"author":861,"featured_media":1004323187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"audio","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,1609,15,41267],"tags":[],"class_list":["post-1004323184","post","type-post","status-publish","format-audio","has-post-thumbnail","hentry","category-featured","category-latest","category-san-francisco","category-west","category-yardimatrix-reports","post_format-post-format-audio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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