Skip to main content Skip to footer

2022 Q1 San Francisco Office Market Research Report

Download Report

Recovery Stalled As Return To Office Delayed

MR_OFC_22Q1_SFO_175x227The San Francisco office market took a step backward in the first quarter of 2022 after showing signs of improvement in the second half of 2021, likely due to the winter surge in Omicron that delayed many companies’ return-to-office plans until Spring along with some companies rightsizing and occupying less space. Market vacancy increased to 18.3 percent this quarter, up 210 basis points quarter-over-quarter which coincided with negative 1,508,710 square feet of net absorption. That said, there are green shoots of optimism in record high office using jobs, fairly robust tenant touring activity, and recent record levels of venture capital funding in San Francisco, all of which drive office demand.



2022 Q1 San Francisco Office Market Research Report

Download Report
Related Experts

Derek Daniels

Research Director I San Francisco

San Francisco

Derek is the Research Director for Colliers International covering San Francisco, California. As Research Director, he leads the organizational and strategic development of the Research service offering for the San Francisco office and works closely with the Colliers brokers and leadership to provide market expertise to clients and procure new business opportunities.

Derek has contributed to regional and national reports covering a wide range of topics affecting commercial real estate. He leads the development of thought leadership content in San Francisco, tracking real estate and real estate-adjacent trends at both the market level and individual asset level.

With 17 years of real estate experience in the Bay Area, Derek is an expert across multiple markets including San Francisco and the East Bay, where he covered the office and industrial sectors in Oakland, the Tri-Valley, and Walnut Creek.

View expert

Steffen Kammerer

Regional Managing Director, Bay Area

Silicon Valley

Steffen Kammerer joined Colliers as the Silicon Valley Executive Managing Director in 2021 after a successful career in tenant representation at JLL. Based in San Jose and living on the Peninsula, Steffen has a unique understanding of the market and what it takes to be successful in the Bay Area. Steffen's approach to business is similar to life - people first. With the opportunity to further differentiate Colliers by being a be servant-based leader, Steffen was quick to recognize the value he could bring to the company. In his new role, Steffen is responsible for the strategic direction and performance of Colliers Silicon Valley, including leadership of Agency Leasing and Occupier Services.

After growing up in the Bay Area and marrying his high-school sweetheart, Steffen and his wife, Danielle have two beautiful, energetic boys that keep their hearts and schedules full outside of the office. With a focus on chasing joy in life and supporting those around him, Steffen’s leadership in the Bay Area is bound to take Colliers to the next level.

View expert