• Home
  • News
  • Tech
  • Lifestyle
  • Digital Marketing
  • Health
  • Education
  • Home Decor
  • Write for us
Saturday, May 27, 2023
  • Login
Getfast - The Informative Hub
  • Home
  • News
    • All
    • Business
    • Loans
    • Politics
    • Science
    • World
    Q4 2022 Office Space Report: San Francisco, CA

    Q4 2022 Office Space Report: San Francisco, CA

    Laptop and calculator

    Questions to Ask Yourself Before Taking a Personal Loan

    White wall paint hotel

    10 Indicators That Your Building Needs More Business Signs

    Preparing to Buy Your First House: What You Need to Keep in Mind

    Preparing to Buy Your First House: What You Need to Keep in Mind

    Businessconcept

    IoT Company Name Ideas: The Coolest, Most Innovative Names Out There

    Highway A9, toll station Como Grandate, Italy

    Trends in the Transport Industry for 2023

  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    The Influence of Mobile Technology on our Daily Lifestyle

    The Influence of Mobile Technology on our Daily Lifestyle

    Which Cloud Computing Service is Right for You?

    Which Cloud Computing Service is Right for You?

    Tips And Strategies For Growing Your Following On Twitter

    Tips And Strategies For Growing Your Following On Twitter

    Artificial Intelligence Stocks To Watch; Is it worth investing in AI?

    Artificial Intelligence Stocks To Watch; Is it worth investing in AI?

    Lucrative Ideas for Mobile Apps in the Big City

    Lucrative Ideas for Mobile Apps in the Big City

    software

    WellnessLiving Online Booking Software Solution: The Ideal Tool for Fitness Studios

  • Lifestyle
    • All
    • Carer
    • Fashion
    • Food
    • Health
    • Travel
    Fashion On A Deadline: Quick And Easy Outfits For Busy Mornings

    Fashion On A Deadline: Quick And Easy Outfits For Busy Mornings

    weed in hands

    How Can You Find CBD Wax For Sale Online?

    Green powder

    What Are Different Sumatra Kratom Products? Why Should You Buy One?

    Leaf

    Why Should You Buy Only AKA Credited CBD Oil Tincture From Offline Stores?

    Girls with shopping bags in hands

    How to Plan a Winter Shopping Spree

    Girl choosing jewellery

    Top Tips to Streamline Engagement Ring Shopping in Toronto

  • Digital Marketing
    • All
    • Content Marketing
    • PPC
    • SEO
    • SMO
    • YouTube
    How would you determine the clickthrough rate (ctr) for a client's search ads?

    How would you determine the clickthrough rate (ctr) for a client’s search ads?

    video ads

    How to Grow eCommerce Business via Video Ads

    Google Analytics

    SEO services continue to become more popular

    digital marketing

    How to Rank and Update your Website

    blog search

    15 Progressed Google Quest Tips for More brilliant Looking

    seo agency vs inhouse specialist

    Hiring SEO Agency vs In-house Hiring

  • Health
    • All
    • Tips
    weed in hands

    How Can You Find CBD Wax For Sale Online?

    Green powder

    What Are Different Sumatra Kratom Products? Why Should You Buy One?

    Leaf

    Why Should You Buy Only AKA Credited CBD Oil Tincture From Offline Stores?

    6 Mind-Blowing Things To Know About Delta 9 THC Products

    6 Mind-Blowing Things To Know About Delta 9 THC Products

    CBD Vape Pen

    Why Is Quality Of CBD Vape Pen More Important Than Price?

    Girls doing exercise

    Seven Tips for Organizing a Week-Long Workout Schedule

  • Education
    woman writing in note book

    How Virtual High Schools Can Help the French Immersion Divide

    Image by Tim Mossholder from Pexels

    How to Balance Creativity and Academic Standards in College Essay Writing

    Tips for Getting Into College

    Tips for Getting Into College

    How can kids enjoy themselves and learn at the same time?

    How can kids enjoy themselves and learn at the same time?

    What is company culture

    How to create a good company culture

    what questions should i ask in an interview

    What Questions Should I Ask in An Interview

  • Home Decor
    • All
    • Home Improvement
    spray foam insulation

    The Importance of Proper Installation for Spray Foam Insulation

    4 Reasons It’s Time to Replace the Windows and Doors in Your Home

    4 Reasons It’s Time to Replace the Windows and Doors in Your Home

    Maximizing the Space Within your Home

    Maximizing the Space Within your Home

    Round Brown Wooden 5-piece Dining Set in Room

    Not All Pest Control Experts Are the Same

    Teal damaged mesh screen

    How to Repair Your Cottage’s Mesh and Screen Windows ?

    Credit: wirestock via Freepik

    Use These Tips to Find an Affordable Apartment to Rent in Ontario

  • Write for us
No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Loans
    • Politics
    • Science
    • World
    Q4 2022 Office Space Report: San Francisco, CA

    Q4 2022 Office Space Report: San Francisco, CA

    Laptop and calculator

    Questions to Ask Yourself Before Taking a Personal Loan

    White wall paint hotel

    10 Indicators That Your Building Needs More Business Signs

    Preparing to Buy Your First House: What You Need to Keep in Mind

    Preparing to Buy Your First House: What You Need to Keep in Mind

    Businessconcept

    IoT Company Name Ideas: The Coolest, Most Innovative Names Out There

    Highway A9, toll station Como Grandate, Italy

    Trends in the Transport Industry for 2023

  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    The Influence of Mobile Technology on our Daily Lifestyle

    The Influence of Mobile Technology on our Daily Lifestyle

    Which Cloud Computing Service is Right for You?

    Which Cloud Computing Service is Right for You?

    Tips And Strategies For Growing Your Following On Twitter

    Tips And Strategies For Growing Your Following On Twitter

    Artificial Intelligence Stocks To Watch; Is it worth investing in AI?

    Artificial Intelligence Stocks To Watch; Is it worth investing in AI?

    Lucrative Ideas for Mobile Apps in the Big City

    Lucrative Ideas for Mobile Apps in the Big City

    software

    WellnessLiving Online Booking Software Solution: The Ideal Tool for Fitness Studios

  • Lifestyle
    • All
    • Carer
    • Fashion
    • Food
    • Health
    • Travel
    Fashion On A Deadline: Quick And Easy Outfits For Busy Mornings

    Fashion On A Deadline: Quick And Easy Outfits For Busy Mornings

    weed in hands

    How Can You Find CBD Wax For Sale Online?

    Green powder

    What Are Different Sumatra Kratom Products? Why Should You Buy One?

    Leaf

    Why Should You Buy Only AKA Credited CBD Oil Tincture From Offline Stores?

    Girls with shopping bags in hands

    How to Plan a Winter Shopping Spree

    Girl choosing jewellery

    Top Tips to Streamline Engagement Ring Shopping in Toronto

  • Digital Marketing
    • All
    • Content Marketing
    • PPC
    • SEO
    • SMO
    • YouTube
    How would you determine the clickthrough rate (ctr) for a client's search ads?

    How would you determine the clickthrough rate (ctr) for a client’s search ads?

    video ads

    How to Grow eCommerce Business via Video Ads

    Google Analytics

    SEO services continue to become more popular

    digital marketing

    How to Rank and Update your Website

    blog search

    15 Progressed Google Quest Tips for More brilliant Looking

    seo agency vs inhouse specialist

    Hiring SEO Agency vs In-house Hiring

  • Health
    • All
    • Tips
    weed in hands

    How Can You Find CBD Wax For Sale Online?

    Green powder

    What Are Different Sumatra Kratom Products? Why Should You Buy One?

    Leaf

    Why Should You Buy Only AKA Credited CBD Oil Tincture From Offline Stores?

    6 Mind-Blowing Things To Know About Delta 9 THC Products

    6 Mind-Blowing Things To Know About Delta 9 THC Products

    CBD Vape Pen

    Why Is Quality Of CBD Vape Pen More Important Than Price?

    Girls doing exercise

    Seven Tips for Organizing a Week-Long Workout Schedule

  • Education
    woman writing in note book

    How Virtual High Schools Can Help the French Immersion Divide

    Image by Tim Mossholder from Pexels

    How to Balance Creativity and Academic Standards in College Essay Writing

    Tips for Getting Into College

    Tips for Getting Into College

    How can kids enjoy themselves and learn at the same time?

    How can kids enjoy themselves and learn at the same time?

    What is company culture

    How to create a good company culture

    what questions should i ask in an interview

    What Questions Should I Ask in An Interview

  • Home Decor
    • All
    • Home Improvement
    spray foam insulation

    The Importance of Proper Installation for Spray Foam Insulation

    4 Reasons It’s Time to Replace the Windows and Doors in Your Home

    4 Reasons It’s Time to Replace the Windows and Doors in Your Home

    Maximizing the Space Within your Home

    Maximizing the Space Within your Home

    Round Brown Wooden 5-piece Dining Set in Room

    Not All Pest Control Experts Are the Same

    Teal damaged mesh screen

    How to Repair Your Cottage’s Mesh and Screen Windows ?

    Credit: wirestock via Freepik

    Use These Tips to Find an Affordable Apartment to Rent in Ontario

  • Write for us
No Result
View All Result
Getfast - The Informative Hub
No Result
View All Result

Q4 2022 Office Space Report: San Francisco, CA

by Johnson
March 29, 2023
in News
Reading Time: 4min read
Q4 2022 Office Space Report: San Francisco, CA

Photo by Tim Foster on Unsplash

San Francisco’s office space market is home to major companies like Uber, Lyft, and Instacart as well as nearly 40 other Fortune 500 businesses.

The unemployment rate was down from 2.6% to 2.4% quarter-over-quarter.

Its population declined for the second year, dropping about 0.5% from July 2021 to July 2022.

Inflation is continuously putting pressure on the city’s supply chain, driving up raw material costs and increasing delays for construction deliveries and tenant improvement projects. 

General Area Overview & Demographics

San Francisco has a population of 815,201 people. It is 49.7% white, 33.3% Asian American, 11.5% Hispanic or Latino, 6.2% African American, and 0.6% Native American.

The median household income in San Francisco is $96,265—much higher than the national average of $63,179. It also has one of the highest living costs in the United States, with a median home price of $1.4 million and an average rent of more than $3,400 monthly.

According to the U.S. Census Bureau, the median age in San Francisco is 38 years old, and over 18% of residents are 65 years and older. Of those under 18 years old, 24% are under five years old, while 35% are between 5 and 17 years old.

San Francisco is home to the University of California, San Francisco, the University of San Francisco, and California State University, Fresno. Other prominent institutions include Stanford University and UC Berkeley.

The Golden Gate Bridge and Alcatraz Island are both iconic attractions. Fisherman’s Wharf is another popular destination for tourists, featuring restaurants, shops, and boat tours that offer views of the Bay Area.

The average temperature in the city ranges between 50-60°F, with summer highs reaching 70°F. Winters are rarely cold as temperatures rarely dip below 40°F.

Summary of San Francisco Office Space Performance in Q4 2022

The San Francisco office market is moving away from lower-quality units, posting negative absorption for the fifth quarter in a row.

Negative net absorption was over 1.28 million square feet in Q4. Year-over-year, absorption went from negative 3.1 million square feet in 2021 to negative 5 million square feet in 2022.

Direct vacancy grew to an average of 18.4%. Class A was at 17.4%, Class B saw 19.5%, and Class C posted 19.7%. 

What are office space rents like in San Francisco?

The average asking rent for office space in San Francisco was down 1.5% quarter-over-quarter, closing Q4 2022 at about $73.65.

In San Francisco’s CBD, asking rent for Class A product decreased by 1.1% after the third quarter, ending in the fourth quarter at $77.31.

Class A product in suburban submarkets saw a rent increase of approximately $3.80 per square foot compared to Q3, ending Q4 at $85.10.

Tier 1 buildings experienced a significant decline in rent, going from $103.77 per square foot to $96.60 quarter-over-quarter.

Purchase & Leasing Activity

With slow leasing velocity and a rapid increase in interest rates, San Francisco didn’t record any major office sales in Q4 2022.

Leasing activity increased quarter-over-quarter from 706,100 square feet in Q3 to 733,000 square feet in Q4.

Over 64% of all leasing activity was for Class A product, and the CBD accounted for over 72% of the new leasing activity.

The highest-performing submarket for new leasing activity was North Financial.

Lease renewals were greater than new leases in Q4, accounting for nearly 760,000 square feet.

Notable Office Space Deals in San Francisco in Q4 2022

There were several lease deals for San Francisco’s office space properties.

  • Databricks’ leasing of about 70,000 square feet.
  • Sigma Computing’s leasing of about 34,000 square feet.
  • Federal Communications Commission’s leasing of about 33,100 square feet.

These are select examples among other lease activities.

New Office Space Development Activity in San Francisco in Q4 2022

Approximately 23,800 square feet entered the pipeline in Q4 after Q3 started with no new projects.

After the deliveries in the third quarter of 2022, there were nearly 1.37 million square feet in development in the fourth quarter.

This is a significant increase when compared year-over-year to only 893,000 square feet in development for Q4 of 2021.

Market Forecast for San Francisco’s Office Space Market

Despite the decrease in tenant activity, requirements slightly increased to demonstrate that while tenants plan on returning to office space, they are also taking more thoughtful approaches to their allotted areas.

Technology companies are expected to decrease their need for office space, opening up opportunities in the market for various industries.

Rent abatements & lease concessions are becoming increasingly important for older buildings as lease terms evolve. Taking advantage of such offerings may be vital in helping generate leasing activity.

Takeaways for Office Space Investors

San Francisco appears to be a challenging market to break into with new offerings.

Lease renewals outpaced new leases, and no new sales activity took place.

For an investor looking to enter this market, a well-occupied Class A property in the CBD appears to be the most promising prospect.

Stay diligent and happy investing.

Tags: San FranciscoSan Francisco officeSan Francisco office space
Previous Post

Best High Roller Casino in the Toronto Area

Next Post

From Monte Carlo to Las Vegas: A Global Tour of Iconic Casinos

Johnson

Johnson

Next Post
From Monte Carlo to Las Vegas: A Global Tour of Iconic Casinos

From Monte Carlo to Las Vegas: A Global Tour of Iconic Casinos

No Result
View All Result

Recent Posts

  • The Importance of Proper Installation for Spray Foam Insulation
  • The 7 Countries With the Biggest Online Casino Industries
  • What Are the Effects of Music on Online Slots’ Players
  • Beyond Tradition: Unconventional Sports Thriving in Canada
  • 4 Reasons It’s Time to Replace the Windows and Doors in Your Home

About GetFast

Get Fast is a fantastic platform for all our readers as we provide them with an ample of valuable information over a plethora of worldwide topics. It is a real honour for us to publish important news and current updates over matters like tech, business, travel, self-care on our page.

Categories

  • Apps
  • Business
  • Carer
  • Content Marketing
  • Dance
  • Digital Marketing
  • Education
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • General
  • Health
  • Home Improvement
  • Home Improvement
  • Lifestyle
  • Loans
  • Mobile
  • Movie
  • Music
  • News
  • Parenting
  • Politics
  • PPC
  • Review
  • Science
  • SEO
  • SMO
  • Sports
  • Startup
  • Tech
  • Tips
  • Travel
  • World
  • YouTube

Recent News

spray foam insulation

The Importance of Proper Installation for Spray Foam Insulation

May 27, 2023
From Monte Carlo to Las Vegas: A Global Tour of Iconic Casinos

The 7 Countries With the Biggest Online Casino Industries

May 24, 2023
Gambling setup

What Are the Effects of Music on Online Slots’ Players

May 23, 2023

© 2020 Get Fast. All right reserved.

No Result
View All Result
  • Home
  • News
  • Tech
  • Lifestyle
  • Digital Marketing
  • Health
  • Education
  • Home Decor
  • Write for us

© 2020 Get Fast. All right reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In