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SAN FRANCISCO—Asking rates rose to $63.24 during the fourth quarter, an increase of 14.2% year-over-year. That is according to CBRE's Colin Yasukochi, director of research and analysis.
According to Yasukochi, there is an increased concentration of available high-end view space in the Financial District as some professional service firms have begun to relocate or downsize from their prime view space, helping push class A space in the CBD to $68.33, its highest rate since 2001.
If demand continues to outpace supply as expected, he says, rents could rise by as much as 10% in 2015.
Check out the below graph for more information.
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