Commercial Estates

San Francisco will be seeing an additional 3 million square feet of new office space in the years 2008 to 2011. This is forecasted as the biggest increase in new office space since 1985 and with the approval of residential units in the permit stage; an additional 45,000 new condominium units will be available for occupancy in the same period.

The Real Estate Investment Trusts believes that San Francisco can sustain rents as high as $100 per square foot by the year 2009. This may seem high but it actually represents only half of the projected rental rate in New York during the same period.