Posted on 10/27/2020 10:26:52 AM PDT by Vendome
As we noted last week, there is nearly 12 million square feet of vacant office space now spread across San Francisco, including 5.6 million square feet of un-leased space and 6.2 million square feet of space which has been leased but is now sitting vacant and actively seeking a subletter (which is up from 770,000 square feet of sublettable space at the same time last year).
For context, the 1,070-foot-tall Salesforce/Transbay tower at First and Mission, which is the tallest building in San Francisco, contains 1.35 million square feet of office space spread across 59 floors.
In other words, there’s roughly 8.7 Salesforce towers, or 516 Salesforce tower floors, worth of empty office space in San Francisco at the moment, which is roughly enough space to accommodate between 67,000 (based on an average, pre-Covid, density) and 91,000 (a la twitter) worker bees.
(Excerpt) Read more at socketsite.com ...
You'll see an eye popping article to follow from Forbes
Yes, but they are getting the little people off of their roads and beaches,
Commercial real estate will get smashed.
I left my give-a-damn in San Francisco.
See the next article I posted.
It isn’t just Commerical RE that is going to get destroyed but, any business that is/was in The Financial District is going to go bust.
Why go back when everything is closed?
What? I wanna walk block everyday to a restaurant that has limited seating? Do takeout?
Eff that.
I was in the city last week and one block from Tadich Grill.
Thought I’d grab some Cioppino but, there was a line and I decided that Cioppino is best eaten hot and right out of the kitchen and I sure wasn’t going to take that back to my car
Skipped it.
OK, now that was kinda funny.
Yep
Trump’s work isn’t done till 20% of D.C. buildings display the sign: “For Rent”
It isn’t COVID. It’s lockdown.
Some offices in Houston are at 5% occupancy for leased space that is not being used now.
Houston Metro traffic maps are almost all green and go almost all the time. Rush hour has almost vanished from what I hear. I”m outta there though.
It may come to a considerably greater percentage than that.
Sounds like a great place to house the homeless.
When the lights go out in San Francisco, we’ve won.
We have no rush hour here in Silicon Valley
The Chinese flu didn't lock down a damn thing.
The Chinese flu did not destroy a single business
The Chinese flu did not force people to hibernate in place.
The ongoing deliberate actions of the governors, the lesser politicians (mayors; commissioners) and many unelected bureaucrats are directly responsible for all this pain and suffering ... the pain and suffering felt by people who aren't even sick!
Couldn’t happen to a nicer Mitthole...
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