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January 30, 2026
San Francisco Bay Area’s retail investment volume slipped lower in 2025, as recovery remains uneven
Investment sales of retail properties in the San Francisco Bay Area took a step backward in 2025, with total sales volume falling below $2 billion. The result marks a change in momentum from 2024, when investment activity bounced back from the historic low of 2023.
January 23, 2026
San Francisco multifamily rent growth resumed positive trajectory in December
San Francisco’s apartment market ended 2025 on a high note, with rents climbing to unprecedented levels. The metro area posted the nation's fastest annual rent growth, reflecting strong demand amid constrained supply. This surge is significant for a market that only two years ago faced declining rents and elevated vacancies. Today, the combination of robust tech hiring and muted construction has created one of the tightest rental environments in the country.
January 20, 2026
Bay Area industrial investment put out mixed signals in 2025
After falling for four years, the Bay Area’s industrial investment market posted a modest recovery in 2025, though overall sales remain well below pre-interest-rate-rise highs.
January 16, 2026
CMBS loan pressure mounts for California hotels, but distress remains uneven
The way hotel loans are performing in California is in transition, shaped by uneven operating recovery, rising debt costs and a growing bifurcation between stabilized properties and those still navigating long-term, built-in challenges.
January 13, 2026
San Francisco employment growth has yet to turn positive, despite a drop in layoffs
The job market in San Francisco remains lackluster, with total employment levels lower than they were a year ago. However, while hiring remains weak, layoff activity has also declined, suggesting that job growth may return to positive territory in 2026.
January 7, 2026
US office leasing increases 5% in past year
Office tenants signed up for an estimated 410 million square feet of space in 2025, a meaningful increase over the prior year. Still, persistently smaller deal sizes and a wide variation in leasing across major cities indicate a choppy recovery from the post-pandemic doldrums.
December 26, 2025
Strong leasing triggers the largest quarterly fall in office availability in San Francisco
San Francisco’s office availability fell by almost 2 million square feet in the past quarter, the largest decrease in a series of four straight reductions. The market’s total available space is now 47 million square feet, a decrease of 5 million square foot from the peak in availability at the end of 2024.
December 23, 2025
Bay Area office sales increase, with tech firms driving volume in San Jose
Commercial real estate investment in the Bay Area office sector has rebounded strongly in 2025. Year-to-date sales volume across San Francisco, San Jose and the East Bay totals roughly $6.2 billion, marking a 100% increase from 2024.
December 18, 2025
San Francisco industrial leasing slows as flex vacancies remain high
Leasing activity in San Francisco’s industrial market lost momentum in the third quarter of 2025, signaling persistent demand challenges across both logistics and flex segments. After peaking in early 2025, quarterly new leasing volume fell to 850,000 square feet, down from 970,000 square feet in Q2 and well below the 1.5 million square feet recorded in Q1. This decline underscores tenant caution amid elevated interest rates, tariff uncertainty and subdued job growth, which have tempered expansion plans across the region.
December 16, 2025
Bay Area multifamily sales rebound as investors target high-quality assets
Multifamily investment activity across the San Francisco Bay Area surged in 2025, signaling renewed confidence after several years of volatility. With a few weeks remaining in the calendar year, total sales volume is on track to equal or possibly surpass 2019’s high of $7 billion.
December 11, 2025
San Francisco multifamily rents hold steady in November as market momentum persists
San Francisco’s multifamily market continued to show resilience in November, even as monthly rent growth paused. After months of robust increases, average asking rents edged down by 0.06% from October, settling at $4.42 per square foot. This minor dip follows a strong upward trajectory earlier in the year and reflects seasonal moderation rather than a reversal of fundamentals.
December 2, 2025
Facing limited options, office renters rediscover second- and third-tier buildings
Over the past five years, office buildings rated three and four stars have borne the brunt of the massive adjustment in workspace demand. That began to change in the third quarter as occupancy losses came to an abrupt halt in these buildings, possibly signaling the start of a longer, deeper recovery.
November 19, 2025
Options for large office tenants dwindle as available premium space shrinks
The number of office buildings able to accommodate large tenants is rapidly shrinking. As a result, major occupiers have fewer choices than at any point since office vacancy started its long climb in 2020.
November 14, 2025
Tech’s next wave: AI startups reshape San Francisco’s office leasing landscape
San Francisco’s office leasing sector is experiencing a notable revival, with tenant demand approaching historic highs and leasing activity outpacing other major markets across the country. Industry observers see parallels to previous tech booms, but this cycle is distinct, driven primarily by the rapid growth of artificial intelligence firms. These well-funded startups are securing office space at a brisk pace, aiming to support ambitious expansion plans and avoid constraints on future growth.
November 11, 2025
San Francisco’s medical office market continues to see positive demand
San Francisco’s medical office market is showing continued signs of stabilization after several years of volatility, according to CoStar’s latest Medical Office Market Report. As of the fourth quarter of 2025, the vacancy rate for medical office properties stands at 9.0%, unchanged from the previous quarter but notably lower than the 11% peak seen in early 2024. The reduction in vacancies also reflects minimal new construction, with just 5,000 square feet delivered in the past year.
November 11, 2025
Multifamily REITs signal turning point coming as supply pipeline begins to shrink
The third-quarter earnings season for publicly traded multifamily real estate investment trusts concluded last week, and the REITs sent a clear signal in their calls and presentations: the U.S. apartment market is at a pivotal juncture.
October 21, 2025
Rising US office leasing still remains below pre-pandemic pace
Leasing volume in the U.S. office market ticked up in the third quarter, according to preliminary estimates, but remains just shy of its pre-2020 norm.
October 17, 2025
Northern and Southern California diverge on rent
After navigating California’s deepest lows in rent performance following the onset of the pandemic, Bay Area multifamily markets in San Jose and San Francisco have reversed course in recent quarters.
October 9, 2025
Convention calendars and sporting events reshape hotel momentum across Western US markets
Hotel performance trends across Western U.S. markets look markedly different in 2025 compared to 2024, with some markets rebounding on the strength of events and convention calendars, while others lose steam after strong results a year ago.
September 26, 2025
San Francisco’s growth in office leasing is now the highest in the nation
In the past year, San Francisco has achieved a larger increase in the amount of office space leased than any other metropolitan area, including New York.

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