Or, for use in upcoming cocktail party banter … As I discussed in my post from last week, the San Francisco market continues to move at a voracious pace, according to Colliers International. The city is benefitting from a combination of positive influences and market conditions, mainly centered around technology: Fueled largely by this rapidly expanding industry, the city continues to add more jobs as large companies such as Salesforce.com, LinkedIn, Twitter and Google have pursued “urban-campus” office locations in the downtown core. The San Francisco market posted nearly 1,443,000 square feet of positive net absorption which marked its 16thconsecutive quarter of positive net absorption.
We expect another 1.2 million square feet of renovated and new space to be delivered to the market during the second half of the year, but a large portion of that space has already been pre-leased and, given the current deal velocity experienced in the market, San Francisco is poised to absorb this new space.
By: Jeffrey Weil
Executive Vice President | Colliers International - Walnut Creek
Jeffrey Weil is an executive vice president for Colliers International Walnut Creek. Mr. Weil has specialized in the sale and leasing of commercial properties for 38 years and has achieved CCIM, SIOR and NACORE’s Master in Commercial Real Estate Services with Honors (MCR.h) designations.
Email Jeffrey: firstname.lastname@example.org
Follow Jeffrey on Twitter: @jeffreyweil
Follow Colliers International on Twitter: @colliersintl
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