Nearly 12M Square Feet of Vacant Office Space in S.F

Post by autotune » Mon, Oct 26, 2020, 12:25 AM UTC

hindsightbias wrote: post #187

pdx6 wrote: post #143

For those that think this is the end of San Francisco, take a deep breath. The empty office space and worries about expiring leases only applies to companies that can't work remote. SF has a huge service industry, swaths of culture, and some pretty nice weather. A bunch of chair warmers and button pushers moved to Tahoe or Mazzula, so what? It is nice to have a huge house and some land, but city living is are a trade…

Eras like this are about survivors. Anyone who was here in 2009 would prefer that era to dot-com 1999 or FAANG 2019. So as far as they’re concerned - faster, please. Consider this a test whether you are a Californian or San Franciscan or someone from somewhere else here to rake in the google dollars. If the latter, I’m sorry your demands were not accomodated. Enjoy the farm in upstate NY or the frowns you get in Taho…

Post by swsh » Mon, Oct 26, 2020, 12:25 AM UTC

jtbayly wrote: post #231

reaperducer wrote: post #196

Earlier quoted context omitted.

Developers in Chicago are building as fast as they can right now. It's counterintuitive to people on the outside, but from what I read, it's because labor, material, and capital are dirt cheap. So the developers are putting up new skyscrapers and other mega-developments so they're in a good position to take advantage of the recovery. A new 57-story office tower opened just last week: https://www.chicagoarchitecture.o…

I was under the impression that building materials are very expensive right now.

Post by arkis22 » Mon, Oct 26, 2020, 12:26 AM UTC

Aeolun wrote: post #52

mancerayder wrote: post #42

Are Progressive mayorships in places like SF and New York the right mentality at the right time when it's an economic catastrophe to be averted? The Mayor of NYC said a few days ago, 'Midtown is not the center of the universe' when asked about sudden new squalor and economic catastrophe. Unfortunately it is the center of jobs for the region. Is SF run like this as well?

> sudden new squalor and economic catastrophe Billionaires suddenly losing their tenants is now economic catastrophe? Is this another variant of ‘too big to fail’? Those buildings won’t be going anywhere regardless of anything else.

Post by baby » Mon, Oct 26, 2020, 12:27 AM UTC

sebmellen wrote: post #2

A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).

Post by arkis22 » Mon, Oct 26, 2020, 12:31 AM UTC

jeffbee wrote: post #248

mancerayder wrote: post #157

Earlier quoted context omitted.

Businesses and residents are leaving both cities are a cadence unlike anything we've seen in decades. My point is singular: are mayorships concerned with progressive issues the best qualified to stem that tide? The numbers speak for themselves in terms of residents (tax revenue) and businesses (tax revenue and jobs). But there's glee in these comments. People are saying things like, who cares about billionnaires and…

> Businesses and residents are leaving both cities are a cadence unlike anything we've seen in decades There is no data underlying this statement whatsoever.