October 2018 San Francisco Tenants in the Market Report
With two different, but costly, Prop C’s hitting the pipeline and on the November 6th ballot, Landlords and Tenants alike must consider the cost of doing business in SF.
The ramifications of both taxes will affect all tenants and property owners across the board – office, multifamily, retail and industrial – while the hidden effects remain speculative in a tight but desirable market.
> There is a total of 213 tenants in the market with more than 213 million square feet of office requirements.
> If 100% of tenants filled their needs, it would equate to a net absorption of approximately 5.0 million feet.
> There are 34 tenants from “out of town” touring the San Francisco office market, representing 646,000 square feet of potential growth.
> Technology companies are responsible for more than 49.6 percent of tenant requirements.