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- Over 18 million square feet of San Francisco office space is vacant, the SF Chronicle reported.
- Thirty-one percent of downtown San Francisco offices are reportedly available for lease or sublease.
- Check out the Chronicle’s interactive map of downtown San Francisco office building vacancies.
An interactive map from the San Francisco Chronicle lets you see just how bad the city’s commercial housing crisis has gotten since the pandemic.
The map, created with data from real estate agent Lee & Associates, helps visualize downtown San Francisco’s 18.4 million square feet of vacant offices — a massive expanse that can accommodate 92,000 people, The Chronicle reports. That’s the same area as 13 Salesforce Towers, the tallest tower in the city.
The rising number of vacant office properties reflects in part the impact of remote work on office attendance.
Over 30% of downtown office buildings have space that can be rented or sublet — up from 19.7% in the first quarter of 2022. The vacancy rate in early 2020 before the pandemic was just 4%, The Chronicle reported.
Last month, an office building at 25 Taylor St used primarily by WeWork lost two-thirds of its value and was 97% vacant after WeWork moved out, according to commercial real estate data company Trepp.
A telling sign of the San Francisco office building market could come from a 22-story office tower at 350 California Street that is said to cost $60 million after being valued at $300 million in 2019.
Click here to view the San Francisco Chronicle interactive map.
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