SAN FRANCISCO
RESEARCH WEEKLY
Sublease Update
8.23.2013
SAN FRANCISCO OFFICE MARKET
Sublease listings on the market 1.2009-8.2013
3,000,000
2,500,000
350
• There are currently 164 listings, totaling 1.3 million
square feet of available sublease space in the market.
300
• Average size of sublease space is 7,947 square feet.
• Average term is 32 months
250
• There are 36 subleases currently available with 12 or
less months left on the lease term totaling 226,595
square feet of available sublease space.
2,000,000
200
1,500,000
150
• Average time listed is 277 days.
1,000,000
100
500,000
• 313,529 square feet is actually vacant or 24% of total
available square feet, near levels 12 months ago.
50
• 28 new sublease offerings totaling 183,246 square feet
has been introduced to the market in the last 30 days.
0
0
Available
sublease space
has remained
constant over
the last 12
months
Vacant
• 8 sublease transactions were registered in the past 30
days, representing 25,000 square feet.
Total # of listings
TOTAL SUBLEASE LISTINGS
AUGUST 2013
Total Available
Total Available Sublease space:
1,303,233 SF
Total Vacant Sublease space:
313,529 SF Total Number of Sublease spaces: 164 listings
Average time listed:
277 days
Sublease spaces listed in past 30 days:
28 listings
17.1% of total listings
Total Available Sublease space in past 30 days:
183,246 SF
14.1% of total available
Vacant Sublease space listed in past 30 days: 43,592 SF
13.9% of total vacant
Sublease spaces listed last 3 months:
80 listings
48.8% of total listings
Available Sublease spaces listed in last 3 months:
638,363 SF
49.0% of total available
Vacant Sublease spaces listed since 3 months: 75,162 SF
24.0% of total vacant
24.1% of total available
Notable sublease transactions signed during the
past 30 days:
A few notable new sublease spaces introduced to the
market over the past 30 days:
• Cumming Construction Management 6,296 square feet
at 475 Sansome Street (Sublessor is Spherion)
•
22 4th Street: 14,673 square feet on the 10th floor (Sublessor is Adura Technologies)
•
260 Townsend Street: 49,191 square feet
(Sublessor is Swinerton Builders)
• Viki 3,124 square feet at 580 California Street
(Sublessor is City National Bank)
For more detailed information regarding the data showcased in this report, please contact Colliers International’s San Francisco Research Department.
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