San Francisco retail market reports
Q4 2023
San Francisco is reporting positive absorption in Q4 and downtown San Francisco brokers are reporting an increase in touring activity. This coupled with the recent news of Osha Thai’s opening at 250 Montgomery, Avo Toasty’s opening at 101 California and the pending opening of the coworking Hej Workshop in the IKEA building at 945 Market have renewed consumer confidence for an ongoing recovery and more vibrant downtown.
Total San Francisco retail availability including Union Square and surrounding areas
Total available space rose slightly over the past quarter, as the urban core continues to face challenges relating to office leasing and Union square continues to struggle due to strong economic factors and crime.
Construction costs rise moderately, but continue to impact prospective retailers
While construction costs only increased by a moderate 0.6% since Q3 2023, they have seen a substantial increase of 39.0% since the start of Covid.
Total retail employment sees increase for the third straight quarter
Retail employment has seen an increase for the third straight quarter, with a modest 0.1% increase in Q4. However, total employment is up 37.1% over the same period since last year, suggesting that existing retailers have experienced an increase in demand.
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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