SFCED | San Francisco Center for Economic Development

San Francisco Tops List of U.S. High-Tech Markets

JLL’s 2014 High-Tech Office Outlook reveals what makes a market dynamic and how 34 markets make the grade.

San Francisco dominates all other U.S. markets in high-tech industry growth, according to JLL’s latest High-Technology Office Outlook market report … The #1-ranked city’s ability to attract high-tech companies and huge amounts of venture capital (VC) propelled job growth in San Francisco’s high-tech sector by almost 20 percent. In the second quarter, San Francisco companies attracted twice as much VC funding as companies based in Silicon Valley.

“One third of the more than 7.5M square feet of current office demand in San Francisco is attributable to high tech users and the high tech sector was responsible for 90 percent of all office absorption in the city in the second quarter of this year,” said Julia Georgules, Director of Research, JLL.

“Due to factors such as increased levels of VC funding and access to engineering talent, San Francisco has now supplanted Silicon Valley as the primary commercial real estate destination for the high-tech industry in the country. In fact, the high-tech industry has reshaped the landscape of the office market throughout the suburban Bay Area and urban San Francisco,” said Travis James, Senior Vice President, JLL

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