Local CRE Trends

Discover What’s New and Interesting in Our Backyard

San Francisco is the fourth most populous city in California, and is considered one of the most enterprising and innovative cities in the world. Its idyllic location – situated on the tip of a peninsula surrounded by the Pacific Ocean and San Francisco Bay – and hilly terrain attract millions of visitors to this culturally diverse city every year. It is renowned for its cable cars, colorful Victorian homes, the Golden Gate Bridge, and the year-round fog that rolls in from the bay.

San Francisco is home to more than 860,000 residents in the city proper and approximately 8.7 million residents in the greater metropolitan area. It is currently undergoing a population boom and is the second fastest-growing city in the country, according to Forbes. San Francisco is also a magnet for highly skilled professionals; 70 percent of San Franciscans over 18 have received training beyond high school, and nearly 50 percent speak a language other than English, according to the San Francisco Center for Economic Development.

San Francisco is home to six Fortune 500 companies, more than any other region except for the Tri-State New York City region. It has a long history of established companies in the business and professional services sectors, 1900+ technology companies, 120+ biotech companies and 200+ clean technology companies. An annual analysis released from real estate and investment firm CBRE ranked San Francisco among the top cities for tech talent, based on factors including available workers and cost of living.

The San Francisco Bay Area has more Fortune 500 headquarters than any other region except for the Tri-State New York City region. Its worker productivity doubles the national average, according to the San Francisco Center for Economic Development, and the region produces more patents than anywhere else in the U.S. The bay area attracts 42 percent of the nation’s total venture capital investments, creating a favorable climate for commercial real estate activity.

San Francisco is undergoing a wave of strong commercial activity, with established technology companies assuming large blocks of space, according to the San Francisco Center for Economic Development. A total of 5.1 million square feet was under construction at the end of the third quarter of 2017 with 1.8 million square feet of new construction scheduled to deliver in the fourth quarter of 2017, according to real estate services firm Cushman & Wakefield. New developments include Salesforce Tower, a 1,070-foot office skyscraper under construction in the South of Market district of downtown San Francisco, and 350 Bush Street, a 19-story office tower under construction in the financial district. Demand for commercial space is expected to be strong in the coming year due to a scarcity of inventory and an influx of technology companies who are migrating to the area.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #402 on the 2019 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our San Francisco-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more..

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*From FORTUNE Magazine, June 2019 ©Time Inc. Used under license. FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Fidelity National Financial.

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