For the perspective of traveling outside of San Francisco, I feel like the question, “How can you live there? Are you safe?” only barely just went out of style as an icebreaker in the southeastern US. Some people just can’t keep up with what’s really happening. Remote work is now outreeè
Unsurprising, San Francisco, which was always stunningly beautiful throughout everything we’ve been through in the last six years, is the first city in the US to eclipse it’s former self for office space demand. As quoted in the Real Real today,
“ The square footage currently sought by prospective tenants considering San Francisco is 14 percent greater than the city’s 2018-2019 average. This year marked the first time the demand in the city eclipsed its pre-pandemic numbers. New York City’s office demand sat at 91 percent of its pre-pandemic average, though the city has surpassed its 2018-2019 numbers a few times in recent years.”
The article also confirmed there has been a “180 degree” shift just recently from workers requiring a flexible/hybrid/work from home schedule to people wanting to be in the office the majority of the time that is driving office demand along with the explosive rate of growth in AI development.
For my part, I can say that parts of San Francisco that were the busiest for the last five years are quieter – think the west side – with places like Noe Valley, Hayes Valley, the Marina, Pacific Heights and again, as in past tech up cycles, anything around Dolores Park, too hot to handle.
Read the whole article here.