Total Vacancy Rises Slightly as Occupancy Losses Moderate
Overall vacancy inched up 20 basis points to 16.1 percent during the third quarter, which is a much slower rate of increase than previous quarters during the pandemic, translating into a positive sign for the market. Although uncertainty remains in the market as companies continue to work through these challenges of the pandemic. Additionally, the San Francisco office market experienced some delayed move-ins as the Delta variant hit and varied recommendations were given out to companies to push back their reopening plans for the third quarter. While some construction has halted, The Swig Company delivered 268,000 square feet at 633 Folsom Street for Asana.
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