San Francisco In Solid Position to Absorb

SAN FRANCISCO—Preliminary first quarter summary statistics for the San Francisco office market from Cushman & Wakefield show that the wave of new construction has finally hit the shores of the CBD. According to Andrea Arata, Northern California research manager at Cushman & Wakefield, “Despite the slight uptick in vacancy within the CBD, strong employment, increased leasing velocity, and expansions within the technology sector indicate that we are in a solid position to absorb the new space that will continue to come online this year and next.”

According to Cushman & Wakefield’s preliminary Q1 stats, leasing activity totaled 1.9 million square feet, the third-highest level for the first quarter in 10 years.