Talked to a commercial broker in SF last week - the vacancy rate is above 25 % and rising.
So is everybody else... and it is going to get worse, much worse.
Its a perfect storm for commercial real estate. There is the change in work patterns, as companies don’t need so much space with people working from home. There is some fear of being in big cities due to last year’s riots. And in SF in particular, you need to watch where you step.
Had someone try to tell me it was 18% and I said “You don’t know WTF you are talking about”