San Francisco’s office vacancy rate continues to grow, but the city’s commercial agents and analysts say the data and some prominent leases point to neighborhood-by-neighborhood differences in desirability that impacts where tenants and lease dollars eventually end up.
“Most tenants want to be where the activity is, and if that activity has shifted toward a particular submarket, then that’s where they consider the new hot spot,” said Dina Gouveia, senior manager of the West Region Market for Avison Young.