It’s likely going to rain this weekend, so keep that in mind as you make your plans. Here are some things going on: On Saturday and Sunday, The Old Mint will be hosting San Francisco History Days, where you can immerse in San Francisco of yesteryear through film, photos, exhibits, presentations, and interactions. On Saturday the 38th Annual Black Cuisine Festival takes place in Bayview Hunters Point at the Dr. George W. Davis Senior Center. And on Sunday, there are a bunch of Oscar parties happening throughout the City. Go to sf.funcheap.com for information on many of them.
On the “Homes for Sale in San Francisco” front, here’s our report for this week, 2/15/18 – 3/3/18
Trends in the City’s Commercial Real Estate Market
Success has its rewards, and its challenges. We’ve discussed how San Francisco home prices have gone up dramatically in recent years, in part because of an expanding and affluent workforce. The tech sector is driving demand and the inventory of homes for sale hasn’t been able to keep up, especially when it comes to single family homes.
As you might expect, scarcity is impacting commercial real estate, right along with residential real estate. A recent report in the San Francisco Chronicle describes how Google, Apple, and Facebook are gobbling up commercial space throughout the Bay Area as they expand.
The presence of large tech companies can make it difficult for startups and other businesses to find space, as landlords may be more willing to work with established, deep-pocketed firms that can pay more rent, sign longer leases, and maybe even buy the property in the future.
Very real challenges exist in both commercial and residential real estate, but they are the byproduct of the Bay Area’s robust and enviable economy.