Q1 2020 San Francisco Market Report
COVID-19 is dominating the headlines in 2020, with the Greater Bay Area under shelter-in-place orders set to expire May 3rd 2020. After 11 quarters of sustained rental rate growth, rental rates declined
by 35bps in Q1 2020. According to research conducted by Cresa San Francisco, declines in San Francisco rental rates typically lag macroeconomic contractions by 0 to 3 quarters. Vacancy has slightly increased to 5%, net absorption clocks in at -156,437 SF, and year over-year rents have increased by nearly 8.5%. The tech-heavy NASDAQ Composite Index remains largely unchanged on a year-to-date basis, but top Wall Street investment banks are forecasting double-digit U.S. GDP contractions for Q1 2020. The pre-COVID deceleration of CRE activity in San Francisco has been met with an unprecedented crisis, the like.
by 35bps in Q1 2020. According to research conducted by Cresa San Francisco, declines in San Francisco rental rates typically lag macroeconomic contractions by 0 to 3 quarters. Vacancy has slightly increased to 5%, net absorption clocks in at -156,437 SF, and year over-year rents have increased by nearly 8.5%. The tech-heavy NASDAQ Composite Index remains largely unchanged on a year-to-date basis, but top Wall Street investment banks are forecasting double-digit U.S. GDP contractions for Q1 2020. The pre-COVID deceleration of CRE activity in San Francisco has been met with an unprecedented crisis, the like.