Tradami, a global logistics company, has signed a one-year lease for 4,566 sf of office space at 3 Embarcadero Center. Waxman & Brodie, a law office, leased 3,300 sf of office space at 450 Sansome Street for three years. John Choi, a restaurant, negotiated a 10-year lease for 3,200 sf of retail space at 900 Bush Street.
The rent rates have not been disclosed but the average in the area is about $39 per sf, triple net, annually. The Financial District is the neighborhood least affected by skyrocketing vacancy rates in San Francisco, according to the latest vacancy report by CoStar Realty.
With a total vacancy rate of 12.72%, the neighborhood has a total of 5,169,132 SF of its 24,980,383 SF available for lease or sublease, according to the report. Rates are still fairly high, averaging at $35-$60 SF, annually.
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