San Francisco Office Market Cools Down
San Francisco’s leasing volume declined during the first quarter of the year, with nearly 840,000 square feet of closed transactions. This is well below the 20-year quarterly average of over 1.8 million square feet and marks the first time in the past few years that San Francisco has not had a 100,000 square foot deal close. The largest lease signed during the first quarter of the year was Knotel's sublease of nearly 84,000 square feet at 301 Brannan Street. Despite this wane in leasing volume during the first quarter of 2020, technology companies continue to lead the charge for space in San Francisco. Technology tenants account for 46.3 percent of the demand in the City which translates into nearly 4.1 million square feet of requirements.
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