San Francisco Office Rents Soften In The Third Quarter
The overall vacancy in San Francisco rate rose 240 basis points to 10.1 percent. Direct vacancy rate increased by 140 basis points to 6.3 percent and vacancy sublease rate space grew 100 basis points to 3.8 percent. San Francisco office market experienced effective rents softening across the board during the third quarter of 2020. Overall weighted effective rents fell from $89.80 to $81.63 per square foot, meanwhile Annually overall non-weighted effective rents declined 10.2 percent to $81.63 percent per square foot.
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