Office space rental rates in San Francisco 2018, by submarket

Yerba Buena was the most expensive office real estate market in San Francisco in the fourth quarter of 2018. Commercial tenants paid, on average, 79.32 U.S. dollars per square foot in that submarket. Financial District North and Financial District were the next most expensive submarkets in the area. South. The average rate in San Francisco was 72.29 U.S. dollars per square foot.

California is the world’s sixth largest economy

San Francisco is located in the state of California, which is one of the world’s largest economies in terms of GDP. California has its booming tech sector and Hollywood to thank for its thriving economy, as well as tourism and international trade. San Francisco has one of the most expensive office real estate markets in the world and is the second most expensive market in the United States by annual rent per square foot of premium office space.

San Francisco’s impressive economic growth

The metro’s own GDP growth is also quite impressive and shows no sign of slowing any time soon. The U.S. cities with the most startups per capita are mostly located in the San Francisco Bay Area. The presence of technology giants, such as Facebook, Google and Twitter in the area will most likely keep the office rents in the region high for many years to come.

Office real estate rental rates in San Francisco in the 4th quarter of 2018, by submarket

Rent in U.S. dollars per square foot
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Source

Release date

2019

Region

United States

Survey time period

Q4 2018

Supplementary notes

*South of Market Street

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Statistics on "Office real estate in the United States"

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