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.

 
Recent Office Headlines
AIG 70 pine st smal AIG Headquarters Sale Makes Splash in Quiet Manhattan Investment Market
June 10, 2009
With rumors circulating of a sale price around $100 per square foot, the sale of the 66-story American International Group headquarters in Lower Manhattan likely set the bar for the biggest sale in the area market thus far in 2009.
Despite Office Market Slump, 1M-SF Connecticut Office Campus Trades in $72M Deal
June 09, 2009
It's an office trade of such a size that has not been seen in Connecticut, no less challenged by job losses and economic malaise than most other markets, in quite a while. Matrix Connecticut L.L.C. has just taken over ownership of the 1 million-square-foot Danbury Corporate Center in Danbury, Conn., from GERA Danbury L.L.C. in a $72.4 million merger transaction. The deal is a coup for Connecticut, as well as its neighbors, as it marks the largest multi-tenant office transaction in the suburban New York Tri-State area so far this year.
Tokyo is Priciest Market as Climate Favors Office Tenants Worldwide: CBRE
June 08, 2009
Tenants have the edge in most of the world’s major office markets, concludes an analysis by CB Richard Ellis Inc. Class A rents are sliding dramatically and vacancy is ticking upwards in nearly every region, according to the study published last week.
 
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