The vacancy rate in San Francisco's office market remains at a record high level—but it does appear to be leveling off.
According to preliminary data from CBRE, the office vacancy rate in the city ticked up by 0.3% in the second quarter to 37% while the office availability rate rose to 39.4%, also a 0.3% increase over the equally dismal first quarter numbers.
Colin Yasukochi, head of CBRE's Tech Insights Center, described the changes as "incremental" and said they suggest that San Francisco's office market may be approaching stability, the San Francisco Business Times reported.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
