– A Record 30% Of San Francisco Office Space Is Vacant:
Here come the vacancies…
A sobering report from Coldwell Banker (available to pro subs in the usual place) reveals that San Francisco’s office vacancy rate hit a record high of 29.4%, as net absorption (total new square footage leased minus the total square footage of vacated space) registered -1.56 million sq. ft.
To that end, software giant Salesforce has put the last of its San Francisco office space up for sublease as part of its January plan to lay off approximately 7,000 employees and reduce office space, SF Gate reports.
According to the report, six floors at 350 Mission St. (Salesforce East) – the top four floors and the fifth and sixth floors – which encompass more than 104,000 square feet, are now up for sublease, according to real estate giant Cushman and Wakefield. The space comes with amenities such as a “fully functional coffee bar,” board rooms, and “high-end” presentation floors.
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