By SocketSite,
There is nearly 12 million square feet of vacant office space now spread across San Francisco, including 5.6 million square feet of un-leased space and 6.2 million square feet of space which has been leased but is now sitting vacant and actively seeking a subletter (which is up from 770,000 square feet of sublettable space at the same time last year).
For context, the 1,070-foot-tall Salesforce/Transbay tower at First and Mission, which is the tallest building in San Francisco, contains 1.35 million square feet of office space spread across 59 floors.
In other words, there’s roughly 8.7 Salesforce towers, or 516 Salesforce tower floors, worth of empty office space in San Francisco at the moment, which is roughly enough space to accommodate between 67,000 (based on an average, pre-Covid, density) and 91,000 (a la twitter) worker bees.
And for additional context, Google’s headline lease of 42,000 square feet of additional office space in the city, which was billed as “one of the biggest San Francisco deals in a year” and a bullish sign of a major player “bucking the trend,” represented a little less than two (2) of the aforementioned 516 floors worth of vacant space.
