The San Francisco office market continues to reach new heights, as strong tenant demand remains active in one of the nation’s strongest markets. Just over 3.3 million s.f. of office space is currently under construction, of which 46% is pre-leased, demonstrating the tight status of the market. Rental rates remain on an upward trajectory, averaging $65.87/s.f. full service across all office building classes and submarkets, up 6% from the prior year. Sale activity soared to $10.1 billion this year, as institutional capital continues to pour into San Francisco.
San Francisco Office Market Report
4th Quarter 2019