San Francisco Now at 35% Office Vacancy Rate, Highest Ever Recorded
December 5th, 2023Via: ABC7:
The skyline of San Francisco’s Financial District is about as picturesque as it gets. An area that was bustling with people several years ago, but one that according to the numbers, is now more vacant than ever.
“Right now in downtown San Francisco, we have a vacancy rate of a little over 35% which is the highest that we’ve ever recorded in the history of San Francisco,” says Colin Yasukochi who is an executive director of the tech insights center at CBRE, which focuses on the tech industry and how it affects commercial real estate. Yasukochi says that office vacancy numbers in San Francisco were 3 to 4% pre-pandemic, meaning we’ve seen more than a 30% increase and that trend may continue.
