San Francisco Peninsula office market reports

Q1 2024

12.6%

Peninsula remote job postings continue to show decrease

The percentage share of overall remote job postings for the San Francisco Peninsula decreased from 16.8% to 12.6% quarter-over-quarter, pointing to a continued trend of return-to-office.

27.5%

Trophy/Class A vacancy on the rise for fifth straight quarter

While both Class B and Class C product has remained relatively stable over the past year, Trophy and Class A vacancies have continued to rise for the fifth straight quarter.

425k sf

Q1 leasing activity remains below pre-pandemic figures

Overall leasing activity continues to fall well below the 5-year pre-COVID average, as many companies continue right-sizing initiatives.

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