Flex Work Leaves San Francisco Trailing NYC in Office Comeback
- Demand in once-tight market is worst among major U.S. cities
- Tech companies push back return plans with delta variant
A cyclist bikes through Embarcadero Plaza in San Francisco, on June 1.
Photographer: Jim McAuley/BloombergThis article is for subscribers only.
A fifth of all office space vacant. Tech companies looking to offload millions of square feet they’d previously leased. Rents down 14%.
The San Francisco office market, once among the most expensive and sought-after in the U.S., fell harder than just about anywhere in the country during the pandemic. Now, it’s getting left behind as other major cities see faster recoveries.