Figures
Bay Area Office Snapshot Q4 2023
January 24, 2024 5 Minute Read
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The San Francisco Bay Area office market closed Q4 2023 with an overall vacancy rate of 24.5%, net absorption of negative 2.0 million sq. ft., and an overall average asking rate of $5.32 per sq. ft. on a monthly, full-service gross basis.
The San Francisco Bay Area R&D market closed Q4 2023 with an overall vacancy rate of 11.1%, net absorption of negative 565 thousand sq. ft., and an overall average asking rate of $3.58 per sq. ft. on a monthly, NNN basis.