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SAN FRANCISCO—Tenants seeking alternatives to pricy large blocksof office space in San Francisco have only six alternatives thatare transit-oriented and available for occupancy within 18 months.Shared exclusively with GlobeSt.com, CBRE analyzed100,000-square-foot or larger contiguous blocks of office spacethat are within a half-mile walking distance from a BARTstation.

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CBRE found five options in the East Bay with a total of 1.2million square feet available and one option in the San FranciscoPeninsula. The five East Bay options, located in Oakland, Concordand Hayward, that have published asking rents average $27 persquare foot annually on a full service basis. The one San FranciscoPeninsula option is available in Daly City, a few miles south ofSan Francisco, and has 127,000 square feet with an asking rent of$45 per square foot annually on a full service basis.

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San Francisco has five large blocks of office space availablefor occupancy within 18 months, totaling 737,000 square feet. Theaverage rent for these five options is $70 per square foot annuallyon a full service basis. Clearly, San Francisco continues totighten with more large tenants than large blocks, saysBill Cumbelich, EVP of CBRE. The incredible urban“tech-cluster” that has developed and access to labor talent in SanFrancisco is unmatched in the Bay Area. “Some of those samecharacteristics can be also found in much more affordable citiesoutside of San Francisco. Oakland is one of those cities with aunique up and coming urban environment, easy BART access, and muchmore affordable office space and housing options.”

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Simon Clark, first VP in CBRE's Peninsulaoffice, who handles leasing at 2001 DC Station, says that Daly Cityhas its first large block of available space within walkingdistance of BART in 10 years, which will cater to the both thegrowing San Francisco based firms seeking a nearby location as wellas those seeking more affordable rents.

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Hear more from CBRE at the upcoming RealShare Bay Area conference here in San Francisco onSeptember 4th, where Jordan Moss, first VP at the firm,will moderate the event's multifamily panel. To hear more about theoffice market, the event will also feature a creative office spacepanel.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.