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November 29, 2022
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ETC... ETC... NEWS
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Five Fast Facts about the San Francisco Office Market

7/26/22

This report was provided by real estate services firm Cushman & Wakefield

1 Office rents reached a new record high of 510,600 positions, up 7.9% YOY.

2 VC funding was at $9.6B, the sixth highest quarterly figure on record.

3 Citywide vacancy is stable at 21.7% compared to Q1 2022.

4 Citywide asking rents totaled $75.65 psf, down 1.3% from the first quarter. Class A CBD asking rents decreased 1.0% since last quarter, totaling $80.55 psf. The decrease in asking rents is largely attributed to new leasing of quality space in non-CBD submarkets. CBD rents in top tier buildings remain strong.

5 New leasing totaled 1.3 msf in the second quarter driven by robust activity in small to mid-size transactions. There was an increase in activity for leases >50,000 sf.





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