Cresa San Francisco Bay Area’s Post

The San Francisco office market continues to build momentum into 2024. Net absorption was positive led by OpenAI's occupancy of 486K SF in Mission Bay, while vacancy increased to all-time highs and availability stayed flat quarter-over-quarter. Given the vast amount of space on the market asking rates continue to decrease. The technology sector, heavily impacted by layoffs and economic pressures, continues to face difficulties, influencing market recovery. Building sales are reshaping the investor landscape, providing opportunities for buyers to reset rental rates amidst a growing demand for flexible lease terms and financially attractive sublease options. https://lnkd.in/g3wh_dXc #sanfranciscobayarea #office #occupiers #CRE

Q1 2024 Office Occupier's Guide

Q1 2024 Office Occupier's Guide

cresa.com

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