SAN FRANCISCO—Strong leasing activity tightened available space supply during the second quarter and steepened the upward rental rate trend. So says a recent San Francisco office market overview from CBRE. “High-tech companies expanded more aggressively throughout the city and were responsible for eight of the 10 largest leases during the quarter, further depleting both new and existing office space supply.”

More than 1.3 million square feet of new construction space was pre-leased this quarter by three high-tech firms and when combined with existing space, the high-tech sector was responsible for 60% of 4 million square feet overall, says the firm’s report. That compares with 50% and a quarterly leasing activity average of 3 million square feet in 2013.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.