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Prime view office space in San Francisco’s CBD has dwindled in supply and increased in cost over the past several years. Currently there is 570,000 sq. ft. of space available with unobstructed bay views, which is only 6.1% of all prime view office space in San Francisco. The absorption of 430,000 sq. ft. in the past two years has pushed asking rents to over $100 per sq. ft., a 23% premium over Q1 2019 market wide average. The quality of office space has become an increasingly important tool for attracting and retaining talent, which has elevated the appeal of prime view space.


 
Prime view space defined: Unobstructed view of San Francisco Bay with outlooks of the Golden Gate Bridge and North Bay and/or Bay Bridge, Treasure Island and East Bay.
Note: Data from Q2 of each year, with preliminary 2019 data ; Source: CBRE Research, 2019
 
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