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Originally Posted by coyotetrickster
San Francisco has one of the lowest vacancy rates in the country. Its vacancy rate is lower than San Jose's.
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Downtown SF has a 10% vacancy rate, which is higher than the vacancy rate in NYC, DC and other prime office markets.
And it doesn't matter. SF could have a 0% vacancy rate and blanket ban on all new construction. That still wouldn't stop anyone from moving corporate honchos to SF. You could sublet existing space, buy buildings, convert space, use temporary space, etc. It isn't that hard. After 9-11 occurred, Lehman Brothers' entire HQ operation (we're talking many thousands of executives) was temporarily run out of hotels.
Quote:
Originally Posted by coyotetrickster
As for rents, SF outpaces Silicon Valley by many dollars. Only the VC haven on Sand Hill Road commands the same per square foot rents as downtown SF. Otherwise, Silicon Valley sprawl is much cheaper.
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I'm acquainted with Palo Alto office rents, and they're considerably higher than downtown SF rents. Prime office space in SV is higher than SF, and the market is generally tighter.