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The San Francisco office market is on a winning streak. For the second consecutive quarter since the pandemic started, office leasing volume has exceeded 1 million square feet. In the third quarter, 2 million square feet was leased in the market, a 74% increase over the second quarter when leasing volume also surpassed 1 million square feet, according to research from Savills

The North and South Financial Districts saw the most leasing activity, accounting for 1.3 million square feet of leasing activity in the third quarter. Large companies were the most active in signing new leases, and six out of 10 leases were for a new location. Savills notes that Charles Schwab renewed its lease for the entire 43,000-square-foot building at 100 Post; Yelp signed a sublease for 53,000 square feet at 350 Mission Street; Waymo subleased nearly 50,000 square feet at 555 Market Street, Uber’s former space; and Pinterest signed the largest lease of the quarter when it renewed its 85,0000-square-foot lease at 651 Brannan Street.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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