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2021 Q4 San Francisco Office Market Research Report

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Flattening the Vacancy and Net Absorption Curves

MR_SFO_21Q4_OFC_175x227The San Francisco office market’s net absorption remains negative; however, an uptick for move-ins this past quarter led to net absorption moving in a positive direction from negative 180,860 square feet last quarter to negative 109,730 square feet in Q4 2021. There is optimism that absorption will continue to rise; tempered by market sentiment that vacancy and rents will remain flat in the first quarter of 2022. However, with the spread of the omicron variant, it is difficult to forecast how companies will respond. Those which have yet to reoccupy their space, may again push back their return to office date later into 2022.

 


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2021 Q4 San Francisco Office Market Research Report

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Erin Proto

Senior Research Manager

San Francisco

Erin Proto joined Colliers International’s San Francisco Office in December of 2013. She heads up the research department and is responsible for authoring office, multifamily and retail research reports. She is responsible for the management of all data collection, quality control, aggregation, analysis, interpretation and timely reporting of market information and trends. Prior to Colliers, Ms. Proto served as Director of Research at Cornish & Carey Commercial Newmark Knight Frank (C&C) for the Walnut Creek and Pleasanton offices.  Before joining C&C, she worked for Grubb & Ellis as Vice President, Director of Research & Marketing in the East Bay and San Francisco offices. During her eleven years at Grubb & Ellis, she mananged the companies research and marketing efforts, including managing the research and marketing team, was responsible for the database, market analysis, quarterly and forecast reports, creation of key proposals and presentations. She was also responsible for all direct marketing functions of the office including collateral material development, communications, web presence, social media marketing, public relations, forecast events and conventional advertising.

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Isabella Day

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Isabella Day is a skilled real estate professional based in the San Francisco area as a Research Analyst for Colliers International. She has prior experience as a  Junior Project Manager for a senior housing developer located in Portland, Oregon. As a Project Manager, she worked on several senior housing ground-up developments, expansions and capital improvement projects throughout the United States. Prior to her role  as a Junior Project Manager, she interned for multiple architecture offices  located in Phoenix, Arizona.  Isabella joined Colliers in October of 2021 and is looking forward to expanding her skills, building her industry connections and gaining insights into the San Francisco market. 

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