San Francisco Office MarketView Q2 2021

July 8, 2021

Direct asking lease rates remained stable in Q2 2021, increasing 0.1% compared to Q1 2021 and bringing the overall market average to $75.38.

Tenants in the market for office space has increased by 615,000 sq. ft. in Q2 2021 and totaled more than 4.7 million sq. ft. at quarter end.

Leasing transaction activity totaled 2.0 million sq. ft. – 35% subleases, 35% new direct leases and 30% renewals.