San Francisco Q3 Occupier Guide

Records are meant to be broken, but occupiers in San Francisco won’t be pleased to learn that current average asking rents set a new all-time high in the third quarter, exceeding $80 per rentable square foot for the first time in San Francisco history. Large tenant demand, a swell of blockbuster deals and little new supply on the horizon created the perfect storm to the delight of local landlords. The market continues to show full employment levels that will cause many companies to worry where they will find new talent to add to their workforces as housing costs have started to squeeze the already limited supply of qualified employees.