After a two-year office space binge, San Francisco tech tenants seem to be taking a bit of a breather.
The number of large leases being signed has dropped off and some of the largest tenants in the market — like Yahoo and Microsoft — seem to be scaling back the amount of space they are looking for. Market chatter has Microsoft’s requirement dropping from 90,000 square feet (the amount of space the company has at 835 Market St.) to closer to 60,000 square feet. Yahoo, meanwhile, is now said to be looking for about 60,000 square feet, down from about 100,000 square feet. Google is still said to be looking for about 300,000 square feet, although the search engine giant backed away after coming very close to leasing Tishman Speyer’s Foundry Square III, which is under construction.
04/26/2024