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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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