July 24, 2025
Profit gaps widen between top hotel markets
The latest data on U.S. hotel profitability reveals a tale of two recoveries.
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July 24, 2025Bay Area bounces back while coastal leisure markets feel the strain
New midyear forecast revisions reveal a widening divide in California’s hotel market recovery heading into the second half of 2025. Updated projections for revenue per available room show northern California markets gaining momentum, while southern and coastal regions grapple with decelerating growth and softening demand.
July 17, 2025Western hotel transactions see modest rebound in early 2025, led by Colorado’s high-profile trades
In the first half of 2025, hotel investing across select full-disclosure Western markets showed slight improvement, with total sales volume rising 11% year over year to $2.05 billion. Despite this uptick, volume remains well-below historical norms, as the scarcity of upper-tier properties on the market and challenging capital conditions continue to constrain overall deal flow.
July 10, 2025Office leasing diverges this year
Office leasing activity edged higher in the first half of the year, though overall leasing volume remains stubbornly below its typical level from the late 2010s. While a few markets appear to be in full-blown recovery, others are still off the pace, hampered by both tepid demand and the absence of large blocks of available premium space.
July 7, 2025Construction in San Francisco area hits rock bottom
The Bay Area’s commercial real estate markets have been under considerable pressure in recent years. A series of headwinds, including remote working, a population exodus, high cost inflation and high interest rates, have challenged the economic performance and values of properties and slashed the financial viability of new development.
June 17, 2025The office recovery is at last underway, but it's still not widespread
The pace of office occupancy losses has slowed dramatically over the past 12 months, and surging leasing activity indicates that the long-awaited recovery is at last underway.
June 9, 2025Why the West Coast is ripe for hotel brand takeovers
As ground-up hotel development faces sustained headwinds, conversions have emerged as a key strategy for growth. However, the opportunity for conversions varies significantly by market, often depending on the mix of branded versus independent properties. An analysis of the top 25 U.S. markets reveals a clear pattern: Markets with a higher share of independent hotels tend to offer greater potential for conversions into branded flags.
May 29, 2025Growth in healthcare sector and aging population drive demand for medical offices in San Francisco
In commercial real estate circles, any mention of the San Francisco office market in the past few years has tended to elicit a collective groan. However, one part of the office market has been outperforming: the medical office segment.
May 14, 2025San Francisco’s retail real estate market switches to expansion mode
San Francisco’s retail real estate market has returned to growth for the first time in two years.
May 6, 2025San Francisco's multifamily rent growth leads the nation
Following several years of subdued performance, San Francisco shot back to the top of the national rankings for multifamily rent growth, with the average apartment rent increasing by 4.5% over the past year.
May 6, 2025Growth returns to San Francisco’s life science sector
San Francisco’s life science real estate market has rebounded in the first months of 2025. An upturn in leasing activity, combined with a slowdown in the construction pipeline, has stemmed the sector’s rising vacancy rate, resulting in the highest level of positive net absorption of the past five years.
April 22, 2025US imports from China expected to plunge at least 40%
Trade paralysis is beginning to set in as the rollercoaster of tariff announcements whiplashes markets, companies and consumers, all of which remain unsure about what to expect next. The rising economic policy uncertainty will significantly affect warehouse demand in coming years.
April 17, 2025San Francisco hotels post All-Star first quarter
San Francisco’s hotel market saw a notable revival in the first quarter of 2025. The improved performance was bolstered by marquee events like the J.P. Morgan Healthcare Conference (Jan. 13–16), the city’s first-ever hosting of the NBA All-Star Weekend (Feb. 14-16) and a shift in the Easter holiday driving strong year-over-year gains in all metrics.
April 10, 2025Investment volume in San Francisco's multifamily market remains high
The investment sales community laments that persistently high lending costs have dampened sales in San Francisco’s multifamily investment market.
April 4, 2025US office leasing bounces back to start 2025
Growing economic uncertainty was not enough to stem the tide of tenants’ appetite for U.S. office space in the first quarter of the year.
March 18, 2025Census Bureau data confirms San Francisco Bay Area population growth
The San Francisco Bay Area continues to recover slowly from the loss of population during the pandemic. Estimates released this month by the U.S. Census Bureau confirm that all five Bay Area counties recorded positive population growth in the year ending July 2024.
March 17, 2025Where multifamily construction activity has decreased the most
In a telling measure of how much developers have pulled back from building new apartments, annual construction starts, the measure of how many units begin construction in a given year, have edged lower across the United States in response to over-supplied conditions in certain markets.
March 13, 2025San Jose leads the way as Bay Area’s office market turns corner
San Jose is leading the way as the San Francisco Bay Area's office market appears to be turning the corner in the first months of 2025. The office availability rate in Silicon Valley declined to 17.4% in the first quarter after peaking at 19.1% at the end of 2023.
March 12, 2025Employment growth in San Francisco remains elusive
With two months of 2025 completed, the San Francisco economy is still waiting to see employment growth restart.
March 11, 2025Hotel performance outlook for the Western US: trends and projections
The hotel industry in the Western U.S. is facing a mix of recovery and growth trends across major markets, with some destinations rebounding from setbacks while others continue to struggle. Markets such as Maui, Los Angeles, San Francisco, Portland and San Jose/Santa Cruz each present unique challenges and opportunities over the next two years.
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