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Office Occupancy At New Low - San Francisco Leads The Way

Commercial Real Estate
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EDITOR NOTE: Large metropolitan areas typically attract people seeking big opportunities. While people assume greater economic opportunity in large cities, large cities in turn need large amounts of people and businesses to sustain the “hustle and bustle” characterizing the cosmopolitan pulse. Business occupancy rates are falling across all major cities. It’s down to 17.6%. San Francisco, the hub of Tech, and one of the most expensive cities in America, is hit the hardest--its office occupancy rate down to 9.9%. When cities fall, at least in terms of commercial occupancy, might it signal that a tsunami is about to wipe out a significant  segment of American production?

The US office market occupancy rate has dropped to a new low of 17.6% (average of 10 cities) with San Francisco leading the way with 9.9% occupancy.

A close-up of Washington DC’s back to work barometer shows the Covid-crash in March and the slow non-recovery to today.

Originally posted on Confounded Interest

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