San Francisco Office Insight Report Q4 2022
San Francisco office market reports
Q4 2022: The San Francisco office market’s struggles persist as companies continue to find it difficult to entice employees back into the office. As the job market softens amid layoffs and lackluster job postings, the San Francisco market faces a pivotal first half of 2023.
Office Visitor Volume
While trending upward, San Francisco office visitor volumes are 44.9% returned the week of December 12th, 2022 compared to the week preceding the lockdown.
Inventory
Office inventory remained unchanged this quarter, although 1.2 msf remains in the construction pipeline.
QTD Net Absorption
With the lack of larger leases being signed, net absorption continues to report negative fundamentals amid a turbulent market.
Vacancy Rate
San Francisco’s vacancy rate continued its upward trend for the twelfth straight quarter.
Total Available Square Feet
Although total available space continued to increase, sublease available square footage began to level off this quarter with unoccupied space transitioning back into the hands of landlords.
Direct Asking Rate Full Service
Average full-service asking rents dipped in Q4 2022 as more space continues to hit the market. However, trophy buildings and view spaces remained competitive in pricing.
Your source for the latest San Francisco office market reports
Get in-depth office market reports and insights from commercial real estate experts in the Greater San Francisco Bay area. Avison Young advisors look at San Francisco commercial real estate activities and the latest San Francisco statistics to provide you expert market research on San Francisco's office properties.
Explore different topics like the latest office market pricing trends and analysis of San Francisco's current office real estate market conditions. Gain a better understanding of San Francisco’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in San Francisco's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in San Francisco.
The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.