SAN FRANCISCO—Demand for San Francisco retail space is as strong as ever in the third quarter, with overall vacancy at 2.2%, down a minimal 20 bps quarter-to-quarter and identical to the vacancy rate at end of 3Q 2013. Prime retail space continues to be taken off the market faster than it can be made available. This according to the Marketbeat Retail Snapshot report from Cushman & Wakefield.

TargetExpress picked up a significant retail block currently occupied by Wells Fargo at 225 Bush Street in the Financial District. Designed with office workers and commuters in mind, the 18,000 square foot small-format Target store, due to open in Spring 2015. A proposal for a second TargetExpress has been submitted for the vacant space at 1830 Ocean Avenue in the Outer Richmond with hopes of opening by year end 2015.

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