San Francisco’s Office Market Roars Back to the Top

San Francisco has engineered one of the most dramatic office-market reversals in the country, shifting from a national cautionary tale to the top U.S. city for office sales. Through the third quarter, buyers closed $4.7 billion in trades across 147 deals. That’s more deals than New York and Los Angeles. Apparently investors see deep value in discounted assets. Avison Young’s James Nelson says the trend has staying power, pointing to a rare entry point in a market where early bets have historically paid off.

The rebound is real but not without caveats. Several high-profile deals tied to OpenAI have raised concerns that parts of the AI surge may be ahead of fundamentals, evoking memories of earlier tech cycles...   ...more

RSK: I guess when you hit rock bottom, any activity is a rebound...still, the metro office market is not what you would call "back" by any means.