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Office subleasing in San Francisco flags slowdown in city's economy

It is at the highest since 2010, suggesting that a 5-year frenzy for office space may be cooling

Published Thu, Mar 24, 2016 · 09:50 PM
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San Francisco

SAN Francisco's commercial real estate market may be foretelling a slowdown in the city's heated technology-driven economy.

Office subleasing, an early indicator of past downturns, is at the highest level since 2010. The amount of available space from subleases in the city jumped to 1.9 million square feet last month, a 46 per cent increase from the end of the third quarter, according to a report from Cushman & Wakefield Inc. Twitter Inc, Intuit Inc, and Zenefits are among tech companies putting excess space on the market.

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