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SAN FRANCISCO-The total amount of construction underway in the South Financial District makes up nearly 90% of all commercial office construction in the city of San Francisco. That is according to a recent chart from Jones Lang LaSalle.
According to the firm, downtown San Francisco has experienced a recent shift in the focal point of the business district as activity moves further south toward the tech-popular South of Market submarket and toward a denser cluster of amenities.
The firm further adds that seven out of the eight commercial office construction projects are located in the Financial District and are collectively more than 50% preleased. (That number doesn't include recently completed projects 275 and 888 Brannan St.)
For Q3, there were only two new office construction starts, the firm points out—222 Second St. and 181 Fremont St.—totaling nearly 900,000 square feet.
See the chart below for more on historical construction/renovation figures (citywide).
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
