A record amount of new speculative construction in combination with developers increasingly re-purposing existing office buildings for research and development use has created a significant oversupply of available R&D space in San Francisco. Heading into 2023, San Francisco had 4.6 million square feet of R&D space available for lease, far exceeding demand.
Construction Boom in Lab-Friendly Flex Space Tips San Francisco Toward Oversupply
San Francisco's 4.6 Million Square Feet of Available R&D Space Far Exceeds Demand
By Nigel Hughes
CoStar Analytics
January 11, 2023 | 4:53 P.M.
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- Gateway of the Pacific III
700 Gateway Blvd, South San Francisco, CA