San Francisco’s commercial real estate market may be foretelling a slowdown in the city’s heated technology-driven economy...
More than 1 million square feet in additional sublease space will likely be available this year, said Matt Hart of Savills Studley. He said he’s more concerned about a shift in tenant demand.
“Many startups that were hiring 10 to 20 employees per month have adjusted to a net zero to three employees per month,” Hart said.
Jobs in San Francisco’s tech industry, which includes Internet, software-publishing and data-hosting companies, increased by an annual rate of 5.1 percent in January, half the 10.5 percent growth in the same period the year before, according to Amar Mann, a regional economist at the Bureau of Labor Statistics...Tech Slowdown Seen in San Francisco's Commercial-Property Market
Related StoriesSavills World Office Yield Spectrum 1H/2016
National Office Sector Report (Q4 2015)