Property Types Office
Residential Woes Spread to S.F. Office Market
May 13, 2008
Source: San Francisco Chronicle

For the first time in years, San Francisco companies gave back more office space they leased, raising fears that the commercial real estate market is suffering from the same blues as the residential sector. This occurred during last quarter, according to several reports cited by the San Francisco Chronicle.

According to CB Richard Ellis, a total of 436,933 square feet came back on the market during the first quarter -- nearly the amount of space comprised by the iconic Transamerica Pyramid. NAI BT Commercial said negative net absorption was only 4,031 square feet, but that that figure was the largest dip since 2003.

 
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