WSJ on San Francisco Real Estate

Nothing new here, but WSJ has an article focused in on the San Francisco office market.

It’s a different kind of commercial-property slump from earlier this decade, however. While office rents collapsed after the dot-com bust, rents are holding steadier this time. Asking lease rates peaked at $67.73 a square foot in downtown San Francisco in 2000, but fell 67% to $22.45 in 2003, according to brokerage CB Richard Ellis. In contrast, downtown rents have dropped 26% to $31.27 as of the third quarter from $42.02 in 2007, according to CB.

Everybody is focused on rents, but there is a lot more to a deal than just face rent.

[via WSJ]

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