Tech companies in San Francisco account for more than half of office tenants

Housing costs making recruitment of tech employees more difficult
  • Office asking rents are at historic highs in San Francisco.
  • Rents, lack of vacancy and employees' housing costs are pushing some firms to the East Bay.
  • Tech firms have pre-leased most of the space at office developments slated to come online.

Similar to San Francisco’s rental and for-sale housing markets, the city’s office sector is being driven by tech industry growth. The demand for space is such that buildings slated to come online during the first half of 2016 are nearly 100 percent pre-leased, primarily by tech firms.