Ever since San Francisco hired a pricey PR firm to help improve the city’s image by placing positive spin in papers like the NY Times, you see a lot fewer articles speculating that the city is in the midst of an urban doom loop. And yet, the PR firm can’t actually stop the bad news from getting out. Case in point, the city’s commercial real estate vacancy rate just jumped up to another record high.
San Francisco’s amount of vacant office space has reached the highest level ever recorded in the city’s history.
According to preliminary fourth quarter data provided by real estate brokerage CBRE, the city’s vacancy rate ticked up nearly 2 percentage points from the previous quarter, reaching 35.9% at year-end. In September, that number was at 33.9%, which was also the previous record high…
With companies still generally giving up more space than they are taking, San…
