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Class A Rent Growth Slows to 11.5% in Q3

SAN FRANCISCO-Overall vacancy rates are at an all-time low 2.16% after falling for the sixth consecutive quarter, according to a recent report by Whitney Cressman Limited. The rate in the Financial District is under 1.5% after falling nearly 60% in the first nine months of the year.

By Raymond Aguilera | Updated on October 08, 2000

SAN FRANCISCO-Throw a rock out a window in this city and you’re bound to hit someone with a horror story to tell about the fierce competition for space and the premium pricing that it inevitably comes with. With office vacancies falling and rents rising for some time now, a recent report by Whitney Cressman Limited shows the first three quarters of 2000 have helped property owners put up some pretty serious numbers.

Overall vacancy rates are at an all-time low 2.16% after falling for the sixth consecutive quarter, according to the report. Indeed, vacancy rates in the Financial District have fallen almost 60% in the first nine months of the year, settling at just under 1.5%. Additionally, absorption hit the roof in the third quarter, at 653,000-sf. By the end of 2000, total absorption will hit 2.5 million sf, the report predicts.

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