The green shoots of good news popping up in San Francisco—where the generative AI boom is fueling a surge in tenant tours—won't be reflected in Q3 office market reports.
The quarterly measurements in this case are telling us that the road to recovery for San Francisco's 88M SF office market will be a long one.
The vacancy rate ticked up to nearly 34% in the third quarter, a 26% increase over Q3 2022, while office availability, which includes all space for lease, vacant or not, reached 37.5%, according to preliminary data from CBRE reported by the San Francisco Business Times.
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