For the first time in more than two years, San Francisco office rents creeped up by 2.2 percent to about $76.28 per square foot during the second quarter, according to brokerage firm JLL.
Rents are finally moving up despite years of blockbuster leases because most of the new office space coming on the market in San Francisco is leased up. For the past few years, new office buildings helped relieve the booming demand, but the city hit a dry spell for new space.
