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DeepNewz, mobile.
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Commercial real estate markets in cities like San Francisco and Los Angeles are experiencing high office vacancy rates, with San Francisco hitting a record 34.5% vacancy rate. Despite the high vacancies, office rents in San Francisco remain relatively high, with asking rents over $68 per square foot per year. The trend of falling office vacancy rates is noted, with newer buildings maintaining better occupancy compared to older ones.
#AI boom can’t stop #SanFrancisco's real estate slide as office space vacancy rate reached a fresh record of 34.5% in Q2. What's more, the average asking rent dropped to $68.27 per square foot in the same period. #realestatemarket #RealEstateNews
🤖����🇸 #AI boom in San Francisco can’t halt the office vacancy surge! Record high vacancies at 34.5% despite AI startups snapping up space. What's next for the city’s struggling real estate market? https://t.co/lEM47322rv
It's astonishing that office rents are not down more in SF By this data, office *asking* rents are only down -25% from when we took our last office lease out in 2019 ($68 vs $85 /sqft) The 7x'ing of the vacancy rate in the same period suggests there's a lot further down to… https://t.co/7f6bCCy0ky