The past couple of years have represented a watershed moment for the real estate industry as tenant calls for more flexibility and changes to the traditional leasing model have got louder.
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Today, the scarcity of quality office space is real, and its impact has a ripple effect on many aspects of the market and business climate. It sounds trite, but if you snooze, you lose in today’s competitive commercial real estate market.
As announced in early October, the City and County of San Francisco passed Proposition C, the Commercial Rent Tax for Childcare and Early Education. It is expected to take effect January 1, 2019, and will increase the Gross Receipts Tax (“GRT”) on Commercial Rents.