More than one in three offices in San Francisco are vacant despite an artificial intelligence boom boosting tech giants. Office vacancy rate hit a record high of 34.5% in the second quarter.
Average office rent in SF fell to $68.27/sq ft, lowest since 2015. Landlords cut prices amid highest vacancy rates. Industry predicts slow city office market recovery post-COVID.
AI companies like Anthropic and OpenAI lease substantial office spaces, counterbalancing San Francisco's high vacancy rates. Despite market challenges, tech startups still find appeal in the city.
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