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San Francisco Chart Of The Week: Tech And Bio-Tech Tenants Double Office Space Since 2000
January 15, 2016
San Francisco's status as a tech hub can't be denied any longer: in December, the Bay Area's tech employment hit 71,087, more than twice the level in 2000.
Financial institutions, however, are well below their 2000 employment levels. As such, the sector's current market demand represents just 10 percent of the 7.7M SF of office requirements.
And with unemployment at its lowest point in the wake of the Global Financial Crisis, and job growth looking to continue in the near future, the demand for office is going to persist and even increasing through the New Year.
