Office Sublease Space Demand Quiet in San Francisco

In 2020, San Francisco recorded a record increase in sublease supply, ultimately accounting for more than half of the total office vacancy in the market, according to research from Cushman & Wakefield. “Unfortunately, as supply surged, demand went in the opposite direction.”

“We have recorded an uptick in tenants in the market. Pre-pandemic there were 6.5 million square feet of tenants actively searching for space then technically falling to just over 3 million square feet, although even those searches were on pause. The figure has since recovered, now standing at a moderately robust 4.5 million square feet with active tours underway,” Robert Sammons, senior director of research for Northern California and Northwest at Cushman & Wakefield, tells GlobeSt.com.