According to our friends at the San Francisco Real Estate Blog, San Francisco recently took first place as the city with the most projected commercial real estate growth. The office vacancy rate in SF is expected to drop by almost 2%, and rent is expected to rise about 7% by the end of the year.
On the one hand, this isn’t such a wonder – San Francisco’s commercial rent market has been bleak for quite some time now. Any trend in a positive direction looks pretty dramatic by comparison.
Still, the New York Observer admits “a twinge of jealousy” at seeing Manhattan conquered. And, as a Bay Area resident, I have to say that feels good.