San Francisco, CA Office Overview
Notable San Francisco real estate scenes include the Downtown Business District, Financial District, and Mission Bay submarkets. With a metropolitan population of over 1.6 million people, the San Francisco commercial real estate market is driven by demand from white collar employers in the technology, financial services, and tourism industries.
As of mid-2017, the Greater San Francisco office market encompassed over 85 million square feet of existing space in properties larger than 50,000 square feet. As the cultural, financial and commercial core of Northern California, the office market in San Francisco consistently sees robust demand from the diverse amount of business and industry that call the San Francisco Bay Area home.
San Francisco, CA Office Inventory Description
San Francisco is a major global tourist destination, a main banking & financial center, and has an expanding base of high-technology business. With a gross metropolitan product of over $185 billion annually, the demand for white collar office space is incredibly strong. Nearly 74% of the space in San Francisco is Class A, with Class B space accounting for 26%.
The Downtown Business District, Bayview, and Presidio Heights submarkets are just three of the most in-demand areas for Class A office space in San Francisco. Within their boundaries, world-class trophy properties such as the historic Phelan Building, the Bayshore Business Center, and the four-building Letterman Digital Arts Center can be found.
San Francisco, CA Commercial Inventory Breakdown
Office Spaces
Total: 118,233,928 SF
By square footage range:
- 50k to 100k SF: 12,503,753 SF / 10.58% of total office
- 100k to 500k SF: 62,876,094 SF / 53.18% of total office
- 500k to 1M SF: 31,134,054 SF / 26.33% of total office
- > 1M SF: 11,720,027 SF / 9.91% of total office
By class:
- Class A+: 12,338,864 SF / 10.44% of total office
- Class A: 63,113,452 SF / 53.38% of total office
- Class B: 27,707,095 SF / 23.43% of total office
- Class C: 883,903 SF / 0.75% of total office
Top 10 Largest Office Buildings
in San Francisco
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 555 California Street | 555 California Street, 94104 | 1,507,000 | 1969 |
| Salesforce Tower | 415 Mission Street, 94105 | 1,420,079 | 2018 |
| 245 Market Street | 245 Market Street, 94105 | 1,390,000 | 1971 |
| 101 California | 101 California Street, 94111 | 1,251,454 | 1983 |
| 525 Market Street | 525 Market Street, 94105 | 1,058,200 | 1973 |
| 525 Market Street | 525 Market Street, 94105 | 1,058,200 | 1973 |
| 1455 Market Street | 1455 Market Street, 94103 | 1,025,833 | 1979 |
| Westfield Centre | 835 Market Street, 94103 | 978,098 | 2006 |
| One Market Plaza - Spear Tower | 1 Market Street, 94105 | 977,844 | 1979 |
| Four Embarcadero Center | Four Embarcadero Center, 94111 | 949,806 | 1981 |
Largest Office Properties Recently Completed
in San Francisco
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 415 Natoma | 415 Natoma Street, 94103 | 646,900 | 2021 |
| Uber Mission Bay 1 & 2 | 1455 3rd Street, 94158 | 422,980 | 2021 |
| Joan and Sanford I. Weill Neurosciences Building | 555 Mission Bay Blvd South, 94158 | 281,800 | 2021 |
| 2130 3rd Street | 2130 3rd Street, 94107 | 175,000 | 2021 |
| 2601 Mariposa Street | 2601 Mariposa Street, 94110 | 163,640 | 2021 |
| One De Haro | 1 De Haro Street, 94107 | 133,427 | 2021 |
| 633 Folsom Street - Expansion | 633 Folsom Street, 94107 | 100,071 | 2021 |
| Southbridge Plaza | 345 4th Street, 94107 | 60,000 | 2021 |
| 49 South Van Ness Avenue | 49 South Van Ness Avenue, 94103 | 481,000 | 2020 |
| The Exchange on 16th | 1800 Owens Street, 94117 | 750,370 | 2019 |
San Francisco, CA Green Office Space
Of the Top 30 Green Office Markets in the U.S., San Francisco ranks #2 for energy efficient buildings. Over 8% of the office buildings larger than 50,000 square feet are LEED certified, over 17% rank as Energy Star Certified and over 20% are recognized as green buildings.
The 795 Folsom Street Building in the Yerba Buena neighborhood of San Francisco is a beautiful example of a LEED Gold-certified building. Originally built in 1979, this 183,444-square-foot property offers the creative space that San Francisco's tenants demand. As more investors seek out green certified office assets, this trend will continue to grow in San Francisco.
The 2017 National Green Building Adoption Index looked at commercial office properties in 30 major U.S. markets and found that, including EPA Energy Star-labeled buildings, the percentage of green certification has increased from just under 5% in 2005 to 38% as of mid-2017. San Francisco has placed second in this survey.
San Francisco, CA's Top Office-Using Sectors
The diversified service economy of San Francisco is driven by the financial services, tourism, high-technology, and biotechnology & medical research industries. All of these sectors help contribute to the dynamic demand for Class A office space in San Francisco.
- Financial Services – Wells Fargo and the Federal Reserve Bank of San Francisco are headquartered in San Francisco, and Bank of America constructed the landmark building at 555 California Street for its world headquarters.
- Tourism – Tourism and related service business benefit from the nearly 20 million visitors and $12 billion in annual visitor-related revenue that is added to the economy each year. The world-class Moscone Convention Center attracts business from around the world and contributes to the demand for Class A office space in Downtown San Francisco.
- High-Technology & Biotechnology – The high-tech and biotech industries are important users of SF office space, with companies such as the Gladstone Institute, the California Institute for Regenerative Medicine and the California Institute for Quantitative Biosciences all calling the Bay Area home.
- Corporate Offices – The demand for while collar office space in San Francisco also comes for numerous corporate office users such as Uber, Union Bank, Airbnb, and Salesforce.
Frequently Asked Questions
How much does office space cost in San Francisco, CA?
The average office rental rate in San Francisco, CA is $55.77 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check San Francisco Office Market Trends for more stats.
What is the size of available office spaces in San Francisco, CA?
The San Francisco, CA office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 692,551 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in San Francisco, CA is 101 square feet, while the maximum rentable space on the market now is 1,385,000 square feet.
How do I get office space in San Francisco, CA?
Start your search for office space in San Francisco, CA by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in San Francisco, CA?
There are 876 office listings on the San Francisco, CA market. See all available office spaces for rent.
Where to rent an office space in San Francisco, CA?
Popular San Francisco neighbourhoods with available office spaces include District 9 - Central East, District 8 - North East and Financial District - Barbary Coast.
What other property types are available for lease in San Francisco, CA?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
San Francisco Demographics
Population
- Total Population874,961
- Male Population(51.0 %) 446,286
- Female Population(49.0 %) 428,675
- Median Age38.20
Income/Financial
- Average Household Income$160,392
- Median Household Income$112,449
- Median Income Under 25$75,200
- Median Income 25-44$159,003
- Median Income 45-64$104,620
- Median Income Over 65$52,188
News
The years between 2000 and 2020 have proven to be quite eventful for the U.S. office market. The first decade started on the tail end of the dot-com bubble, which resulted in the boom and bust of an unprecedented real estate bubble. Then, the 2010s were marked by growth and consolidation, only t...
Our expert insight series continues with Norm Miller, PhD, the Hahn Chair of Real Estate Finance at the University of San Diego. He has helped develop real estate analytic products and tools to support financial institutions, banks and investors, including valuation models, mortgage risk product...
Last year, e-cigarette giant JUUL signed a lease for 20,000 square feet of space at 1000 F Street NW, a LEED Silver-certified office space in Washington, D.C. This week, the company announced it would expand its presence in the nation’s capital, in an effort to relocate its headquarters from San...