Colliers International Tenants in the Market Report — April 2017
San Francisco Comes Out of the First Quarter with Indications of New Energy and Increase in Tenant Demand
With heightened anticipation for completion of the Salesforce and Oceanwide Towers alongside rising sublease popularity, we see a new wave of San Francisco interest emerge with opposite ends of pricing bookmarking stable market rates.
- There is a total of 171 tenants in the market with more than 5.5 million square feet of office requirements.
- If 100% of tenants filled their needs, it would equate to a net absorption of approximately 2.8 million feet.
- There are 22 tenants from “out of town” touring the San Francisco office market, representing 888,500 square feet of potential growth.
- Technology companies are responsible for more than 45 percent of tenant requirements.