Sublease Space In San Francisco Continues To Grow
The overall vacancy rate rose 110 basis points to 11.2 percent. Direct vacancy increased 80 basis points to 7.1 percent and vacant sublease space grew 30 basis points to 4.1 percent. Overall weighted effective rents dropped by 8.6 percent to $74.63 per square foot and as expected annual overall weighted rents fell 25.4 percent from the peak last year at $100.02 per square foot. Overall non-weighted effective rents declined 5.8 percent to $75.91 per square foot this quarter.
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