San Francisco retail market reports
Q3 2023
The Bay Area retail market’s recovery has continued despite widespread negative media headlines. Excluding Union Square, Bay Area retail availablity is 4.9% highlighting the strength of consumer demand and sales. The delay of return to office continues to plague downtown San Francisco and Union Square retail and until a path to office occupancy is achieved, these sectors will continue to struggle.
Total San Francisco retail availability including Union Square and surrounding areas
Total available space has remained relatively unchanged over the past three quarters, as the market continues to face challenges relating to office leasing and economic headwinds.
Construction costs stabilize, but remain a challenge to retailers hoping to expand
Despite rising 38.1% since the pandemic, construction costs have shown signs of stabilizing in recent months with only a 0.9% increase since the previous quarter.
Retail employment down since COVID, but steadily trending upwards Y-o-Y
Retail employment has declined 7.9% following the pandemic, but total industry employment has increased 4.4%
Y-o-Y.
Your source for the latest San Francisco retail market reports
Get in-depth retail 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 retail properties.
Explore different topics like the latest retail market pricing trends and analysis of San Francisco's current retail real estate market conditions. Gain a better understanding of San Francisco’s retail real estate outlook and stay ahead of current retail space trends. Make smart decisions when it comes to investing in retail properties in San Francisco's competitive retail real estate market. Avison Young is your trusted source for commercial real estate retail market insights in San Francisco.
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