2018 Q1 San Francisco Office Knowledge Report

San Francisco experienced an historic high year of gross leasing activity in 2017 and while leasing activity has slightly slowed during the first three months of the year it remains quite healthy posting 2.1 million square feet of transactions. This leasing volume is 18 percent higher than the 17-year historical quarterly average of 1.8 million square feet. During the first quarter several deals over 50,000 square feet were completed as well as two leases over 100,000 square feet. WeWork leased 251,000 square feet of the entire building at 400-430 California Street, Stitch Fix renewed and expanded at One Montgomery Street for 134,000 square feet, Covington & Burling took nearly 78,000 square feet at 415 Mission Street and New Relic renewed and expanded at 188 Spear Street.