Highlights
- The average rent for office space in San Francisco is $51.28 per square foot, 22.38% lower compared to the previous year.
- The market’s vacancy rate stands at 23.42%, higher than the state average of California, which is 18.44%.
- Renting Class A/A+ office space here costs $59.45 per square foot, while Class B averages $46.66 and Class C stands at $22.37.
2025 Office Space Rent & Sales
- $51.28 2025 Avg. Asking Rent
- -22.38% Y-o-Y Avg. Asking Rent Change
- 23.42% 2025 Office Vacancy Rate
- $1.6B2025 Total Office Sales
- $240.73Avg. Sale Price/SF
What is the average asking rent price for office space in San Francisco?
Average asking rents for office space here stand at $51.28 per square foot. The local office market recorded an average vacancy rate of 23.42% in 2025, unchanged from 23.42% in 2024.
Office transactions in the local market in 2025 totaled a sales volume of $1.6B across 39 sales. These transactions commanded an average sale price per square foot of $240.73.
San Francisco, CA Office Asking Rents by Class
What is the average office rent per square foot by property class in San Francisco?
- Avg. Asking Rent Class A & A+$59.45
- Avg. Asking Rent Class B$46.66
- Avg. Asking Rent Class C$22.37
The average asking rent for Class A and A+ office space stood at $59.45 per square foot, indicating the best — and most expensive — that the market has to offer.
Class B space in San Francisco averaged $46.66 per square foot, while the average for Class C space was $22.37 per square foot.
What is the average office rent per square foot by property class in CA?
- Avg. Asking Rent Class A & A+$58.81
- Avg. Asking Rent Class B$37.82
- Avg. Asking Rent Class C$22.26
For comparison, the average rent for Class A and A+ office space in California was $58.81 per square foot. The state-wide average for Class B space was $37.82 per square foot, and Class C office spaces averaged $22.26 per square foot.
San Francisco, CA Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| South San Francisco | $82.96 | 25.74% |
| San Francisco - Presidio Heights | $69.31 | 13.26% |
| San Francisco - West Van Ness | $62.65 | 29.25% |
| San Francisco - North Financial District | $55.08 | 20.65% |
| San Francisco - Civic Center | $54.57 | 21.27% |
| San Francisco - Mission District | $45.80 | 27.96% |
| San Francisco - South Financial District | $44.70 | 22.27% |
| San Francisco - North Waterfront | $35.00 | 28.19% |
| San Francisco - SOMA | $28.41 | 29.61% |
| San Francisco - Bayview | $12.00 | 33.98% |
2025 Office Sales Volume
- $240.732025 Avg. Price per SF
- -42.41%Y-o-Y Avg. PpSF Change
- $1.6B2025 Office Sales Volume
- 392025 Number of Transactions
What is the average sale price per square foot for office space in San Francisco?
Average sale prices for office space in this market recorded a -42.41% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $240.73 per square foot. For comparison, the statewide California average during the same time period stood at $295.06 per square foot, while the national average was $182.48 per square foot.
San Francisco, CA Sale Price per SF Trend
- San Francisco Avg. Sale Price per SF in 2025$240.73
- California Avg. Sale Price per SF in 2025$295.06
What was the total office sales volume in San Francisco in 2025?
The local office market recorded 39 deals in 2025, adding up to a yearly sales volume of $1.6B.
- San Francisco, CA Total Office Sales Volume in 2025 $1.6B
- San Francisco, CA Total Number of Office Sales Closed in 2025 39
What were the largest office building sales in San Francisco in 2025?
The market’s largest transaction last year was the sale of 33 New Montgomery Street for $76,261,560 on 1/17/2025. The next-highest sale was the transaction involving 88 Kearny Street, which traded for $74,500,000. The third-largest transaction was the sale of Wells Fargo Headquarters for $55,467,000.
| Property name | Address | Date | Price |
|---|---|---|---|
| 33 New Montgomery Street | 33 New Montgomery Street | 1/17/2025 | $76,261,560 |
| 88 Kearny Street | 88 Kearny Street | 4/24/2025 | $74,500,000 |
| Wells Fargo Headquarters | 420 Montgomery Street | 9/30/2025 | $55,467,000 |
| 600 Townsend | 600 Townsend Street | 8/1/2025 | $54,100,000 |
| 450 Sansome Street | 450 Sansome Street | 2/7/2025 | $47,500,000 |
2025 Office Construction in San Francisco, CA
- San Francisco, CA Total SF completed in 2025 865,000
How much office space was built in San Francisco in 2025?
What are the largest recent office completions in San Francisco?
The largest recent office completion here is The Exchange on 16th at 750,370 square feet, completed in 2019. The next largest completions are 415 Natoma and Uber Mission Bay 1 & 2.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Mission Rock - Building B | 1051 3rd Street, 94158 | 313,952 | 2023 |
| Mission Rock - Building G | 300 Toni Stone Xing, 94158 | 299,600 | 2023 |
| Mission Rock - Building A | 1023 3rd Street, 94158 | 175,643 | 2023 |
| 531 BRYANT | 531 Bryant Street, 94107 | 50,000 | 2023 |
| 415 Natoma | 415 Natoma Street, 94103 | 648,000 | 2022 |
| Uber Mission Bay 1 & 2 | 1455 3rd Street, 94158 | 486,600 | 2021 |
| 2601 Mariposa Street | 2601 Mariposa Street, 94110 | 163,640 | 2021 |
| 49 South Van Ness Avenue | 49 South Van Ness Avenue, 94103 | 481,000 | 2020 |
| The Exchange on 16th | 1800 Owens Street, 94158 | 750,370 | 2019 |
| Van Ness Medical Office Building | 1100 Van Ness Avenue, 94109 | 253,000 | 2019 |
See reports for other markets
- Los Angeles Office Rent Price
- San Diego Office Rent Price
- Sacramento Office Rent Price
- San Jose Office Rent Price
- Irvine Office Rent Price
- Fresno Office Rent Price
- Oakland Office Rent Price
- Palo Alto Office Rent Price
- Santa Monica Office Rent Price
- Pasadena Office Rent Price
- Redwood City Office Rent Price
- Walnut Creek Office Rent Price
- Santa Clara Office Rent Price
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- Newport Beach Office Rent Price
Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.