US cities face a 30-year high in office vacancy rates, prompting innovative repurposing of downtown spaces. From residential conversions to community hubs, urban centers are reimagining their futures amid shifting work patterns.
Browsing: commercial real estate
Sephora has signed the largest new office lease in San Francisco since the pandemic, securing space at the Salesforce building. The deal signals renewed confidence in downtown’s commercial real estate market.
Westfield has announced it will relinquish control of its San Francisco mall, highlighting ongoing struggles in the retail sector. This move signals potential challenges ahead for commercial real estate investors.
A private school operator has acquired the former Airbnb headquarters in San Francisco for $23.5 million, signaling a notable shift in the use of prime tech office space in the city, reports the San Francisco Business Times.