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The office apocalypse has been felt across most major markets worldwide. The impact of the pandemic was to reduce the need for conventional office space. There are still people working from home who were in an office environment in 2019. But slowly, demand for conventional office space is normalizing. We are seeing it in multiple markets.

On today’s show we are going to look at San Francisco. This city took a major hit in office vacancy. Several commercial real estate reports indicate that the peak office vacancy rate in San Francisco was 36.6% in the first quarter of 2024, according to CBRE. We've seen a turnaround in leasing activity with net absorption of 779,919 square feet. Listen to find out who is leasing and why.

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Is Office Demand Coming Back?