And so it continues. The latest figures on San Francisco's glut of abandoned office space show the commercial real estate sector limping along and about to lose its good leg. Due to layoffs in the financial sector, which makes up 10 percent of San Francisco's work force, and the recent collapses of two law firms, more than 800,000 abandoned square feet are currently on the market. That's 10 percent of the city's overall office space, with another 2 million on the market through the usual channels. Of course, this is pushing prices way down for all. Overlending is a harsh mistress... or something. Yeah, happy holidays!
· Empty offices build up in city [SF Examiner]
· Wall Street Ripple: Bloodbath By the Numbers [Curbed SF]
· SoMa Not Spared in New Office RE Slump [Curbed SF]
· Office Space Overwhelms SF [Curbed SF]
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