Q3 2022 San Francisco Occupiers Guide
While the increase in availability was brought on by the pandemic, there’s a long road to recovery as macroeconomic pressure amounts. Total availability has reached an all-time high (30.6%) due to more direct space coming online from sublease turnover and a lack of direct renewals.
Occupiers are facing uncertainty around their in-person occupancy which is delaying leasing decisions. According to Kastle Systems, average occupancy levels for the San Francisco Metro1 recorded 39.2% of pre-pandemic levels as of September 2022. This shortfall has prompted companies to right-size their space requirements and put acquisition projects on hold.
Occupiers are facing uncertainty around their in-person occupancy which is delaying leasing decisions. According to Kastle Systems, average occupancy levels for the San Francisco Metro1 recorded 39.2% of pre-pandemic levels as of September 2022. This shortfall has prompted companies to right-size their space requirements and put acquisition projects on hold.