Q3 2022 San Francisco Sublease State of the Market
Despite stricter Return to Office policies post-Labor Day from large companies like Meta and Apple, many companies are still opting for smaller office footprints.
Median requirements have shrunk by 4K SF from last year going from 19K SF in Q3 2021 to 15K SF in Q3 2022. This has led to smaller sublease transactions. The median sublease has nearly halved YOY from 8.5K SF to 4.8K SF.
Large subleases (>50K SF) are lingering on the market longer than small block subleases (<20K).