Another Office Tower Trades Hands in San Francisco as Local Market Soars

http://www.multihousingnews.com/cities/san-francisco/another-office-tower-trades-hands-in-san-francisco-as-local-market-soars/1004094912.html

Dec. 13, 2013

Another Office Tower Trades Hands in San Francisco as Local Market Soars
By Alex Girda, Associate Editor

As the San Francisco office market becomes one of the healthiest local markets in the entire country, the rush is on for investors to capitalize on the impressive appeal of the San Francisco Bay Area before 2013 draws to a close. We’ve recently reported on the major deals completed in the city for high-profile office assets, and now KBS Real Estate Investment Trust III is adding to an already impressive tally of major real estate transactions completed just weeks before the end of Q4. The public non-traded REIT recently shelled out $121 million for an office building in the city’s South Financial District.

2013 | Q3 San Francisco Office Report

http://www.colliers.com/en-us/sanfrancisco/insights

2013 | Q3 San Francisco Office Report >>

The San Francisco office market bounced back from a uneventful first half, and accelerated during the third quarter of 2013 with rent growth and release of several notable properties on the sale market. San Francisco remains ahead of the burgeoning global economy as job growth from its well-funded tech sector benefitted the office market. The third quarter registered the thirteenth consecutive quarter of positive net absorption and vacancy is now below the 10 percent “tipping point” citywide for the first time in consecutive quarters since 2001. Moreover, the rise of the city’s employment and leasing volume over the last 30 months have pushed forward the construction of 4.15 million square feet of new and rehabilitated office development with anticipation of additional projects breaking ground.

http://www.colliers.com/en-us/sanfrancisco/insights

2013 | Q2 San Francisco Office Report

http://www.colliers.com/en-us/sanfrancisco/insights

2013 | Q2 San Francisco Office Report >>

Shaking off a sluggish first quarter the San Francisco Bay Area finished off the first half of 2013 with healthy leasing and rent growth. San Francisco remains ahead of the burgeoning global economy as job growth and leading-edge productivity due to technology have benefitted the office market. The second quarter registered the twelfth consecutive quarter of positive net absorption ,and vacancy is now below the 10 percent "tipping point" citywide for the first time since 2007. Moreover, the rise of the city’s employment and leasing volume over the last 24 months have pushed forward the construction of 3.4 million square feet of new and rehabilitated office development, with anticipation of additional projects breaking ground.

http://www.colliers.com/en-us/sanfrancisco/insights

2013 | Q1 San Francisco Office Report

http://www.colliers.com/en-us/sanfrancisco/insights

2013 | Q1 San Francisco Office Report >>

After a record setting 2012, San Francisco started 2013 with a strong first quarter. The global economy continued to bounce back and San Francisco remains ahead of the pack as job growth and increased productivity due to technology enhancements have benefitted the office market. The first quarter marked the eleventh consecutive quarter of positive net absorption and vacancy is hovering at 10 percent citywide. Even more encouraging is the 1.2 million square feet of ground up office development currently under construction, driven by the city’s increased employment and leasing volume over the last 24 months.

http://www.colliers.com/en-us/sanfrancisco/insights

2012 | Year-End San Francisco Office Report

http://www.colliers.com/en-us/sanfrancisco/insights

2012 | Year-End San Francisco Office Report >>

San Francisco remains a bright spot in an otherwise cautious national office market.

http://www.colliers.com/en-us/sanfrancisco/insights