San Francisco is experiencing changes in its commercial real estate landscape, with a decrease in coworking spaces since 2019. WeWork has confirmed keeping its lease in an 18-story tower near the waterfront. The city's nightlife scene is contributing to a return to downtown after hours, with initiatives like Entertainment Zones. Additionally, a previously empty office tower has seen new leases since last fall, including one that was purchased vacant and has leased space to 8 tenants. Google has announced it won't renew its lease on a 300,000 sq ft space on the waterfront tower next year, reflecting the trend of remote work impacting commercial real estate. SF's largest tech employers have significantly reduced their leased office space since 2019, leaving a substantial amount of vacant space equivalent to iconic landmarks like the Transamerica Pyramid and Salesforce Tower.
WeWork cuts deals to retain two coworking offices in Oakland and San Francisco https://t.co/cprwzgHWcW
Since 2019, SF's 20 largest tech employers have cut the office space they lease almost in half. The vacant space that's left is equal to: - more than 15 Transamerica Pyramids - five Salesforce Towers - two-and-a-half Apple Parks https://t.co/aImgeCpq8y
The collapse of San Francisco commercial real estate continues. Google has announced they won't renew their lease next year on 300,000 sq ft on the San Francisco waterfront tower. With more and more people working remote, Google is shrinking it's footprint and consolidating… https://t.co/BOM12MHDJE
550 Cal, purchased vacant from Wells Fargo, has leased 62k sf to 8 tenants since the fall with cheap rents. https://t.co/7X3XzzKu6Z via @sfchronicle
This San Francisco office tower was empty when it sold at a discount last year. Now, it’s filling up with eight new leases since fall. https://t.co/2a5hBO2TRb
San Francisco’s uniquely awesome nightlife scene is driving a big return to downtown after hours. We’re seeing huge successes like First Thursdays & Banghra & Beats Night Market, plus new initiatives like Entertainment Zones, which I authored & @LondonBreed is implementing. 🧵 https://t.co/cJFCZtyvZA
NEW: WeWork confirmed to the Chronicle Monday that it will keep its lease inside of an 18-story tower that it anchors near the city’s waterfront. https://t.co/I2kZxXXfPb
San Francisco has lost half of its coworking spaces since 2019. Despite the shrinkage, operators say there’s a rise in interest from people and startups looking to work from flexible environments. https://t.co/tn5C21qivU
Since the pandemic, cities across the country have had to get creative in finding ways to get people back into downtown areas. With hybrid work becoming the norm and no longer a band-aid, that remains a struggle during the daytime for downtown San Franc... https://t.co/Ei6oYOMupu