San Francisco office leasing featured several large deals in the first quarter of 2017, and real estate experts predict continued strong demand for office space in the city.
The biggest deals in SF in the first quarter of 2017 included 166,460 square feet taken by Google on Spear Street, 109,000 square feet leased by Adobe on Hooper Street, and 100,616 square feet taken by Accenture at Salesforce Tower. Furthermore, developers are close to wrapping up 3.25 million square feet more office space that will come on the market later in 2017. Asking rents of $77 per square foot have changed very little in the past six quarters, while the vacancy rate of 6.4% is about what it was in the first quarter of 2016.
Activity in the first quarter of 2017 indicates a strong positive outlook for San Francisco office real estate. With rents flattening and office leasing as strong as ever, the city of San Francisco continues to provide a business environment rife with economic activity and economic opportunities.
Read more: San Francisco Business Times Huge deals dominate San Francisco office leasing