San Francisco Office Vacancy Rate Reaches New Record High

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San Francisco Office Vacancy Rate Reaches New Record High
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Commercial real estate experts say remote work is a major reason many office spaces remain empty in San Francisco.

Alexander Quinn, director of research with Jones Lang LaSalle Commercial Real Estate, said the city is almost getting hit because it had been a hub for commuters.

While a few landlords have been slightly lowering prices, most in the newer, taller towers have not. In fact, some buildings with the best view are actually raising their leasing prices because of high demand from companies that are being picky about where they will keep their remaining office spaces.

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