SAN FRANCISCO-The amount of downtown sublease office space on the market is at its lowest point since 2000, according to research by CBRE. This is causing rents to rise rapidly as spaces are harder to find, according to a story in Thursday's San Francisco Business Times.
Currently San Francisco has 1.1 million square feet of sublease space available, which represents a 60% drop in available footage space from the 2.7 million that was on the market after the recession hit in 2009.
Meanwhile, rents for subleases have more than doubled from a low of just above $20 a square foot in 2010 to about $42 a square foot today, the website says.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
