San Francisco, CA
Office Vacancy Rate in San Francisco Hits a Pandemic High
Having inched down to simply below 20 p.c on the finish of final 12 months, the efficient workplace emptiness fee in San Francisco ticked again as much as a pandemic excessive of 21.7 p.c within the first quarter of 2022, representing 18.7 million sq. toes of vacant workplace house within the metropolis, together with 5.3 million sq. toes of house which is technically leased however sitting vacant and 13.4 million sq. toes of un-leased house, based on knowledge from Cushman & Wakefield.
As some extent of comparability, there was below 5 million sq. toes of vacant workplace house in San Francisco previous to the pandemic with a emptiness fee of 5.7 p.c, versus a long-term common of round 12 p.c. And as we outlined final quarter, foreshadowing the primary quarter rise:
Regardless of the drop within the total emptiness fee on the finish of 2021, the quantity of un-leased workplace house in San Francisco truly ticked up, each within the absolute and comparatively, with 1.3 million sq. toes of house that was being provided for sublet within the third quarter having been leased, reoccupied or returned to the market as instantly vacant house. And complete leasing exercise truly dropped from the third to fourth quarter of final 12 months, with “a shortage of enormous transactions,” a push again of return to workplace dates (sure, the surge in COVID instances is significant, past growing hospitalizations and deaths), and below 1 million sq. toes of house having been leased, together with sublets, for a destructive internet absorption.
And when it comes to lively demand for the 18.7 million sq. toes of vacant house, Cushman & Wakefield is at the moment monitoring lively necessities for 4.9 million sq. toes of house, which was down from the fourth quarter of final 12 months and 33.8 p.c beneath the pre-pandemic demand.
San Francisco, CA
Big-rig crash snarls Bay Bridge traffic for hours
A jackknifed semi-truck blocked four lanes of eastbound Interstate 80 on the Bay Bridge Thursday, causing major delays during the rainy morning commute.
California Highway Patrol officers responded to a report of a solo truck collision at 5:12 a.m. just east of the First Street onramp, according to CHP logs. Officers arrived to learn the driver, who sustained head injuries and was seen limping, had lost control of the vehicle. The driver was taken to a hospital with minor injuries and was in stable condition, the San Francisco Fire Department said in a statement.
The truck suffered major front-end damage but remained upright. Authorities warned it would take hours to clear the wreckage and encouraged drivers to use other routes.
San Francisco, CA
Atmospheric river forces flight delays, cancelations at SFO
As an atmospheric river makes its way into the Bay Area, flights at San Francisco International Airport have been drastically impacted.
According to Flight Aware, the airport saw more than 430 delays on Wednesday and more than 60 cancellations. With the storm not projected to clear up for a few days, aviation experts said it will impact those beginning their travel for Thanksgiving week.
“If we can’t get out of this weather, which it doesn’t look like we’re going to until sometime next week, all these people could be delayed and probably will be delayed to their destination,” said Mike McCaron, an aviation expert.
Donnie Pascal, who was flying to Florida, and their family had their flight delayed by two hours.
“I got snacks. I got my phone,” Pascal said.
Some passengers went to SFO to find out their flights were canceled.
As the storm progresses, more flights can be impacted, as the FAA continually reviews the number of planes the airport can accept per hour. Then, airlines have to respond accordingly.
McCaron said he recommends that travelers stay in touch with their carrier and check their flight status via an application.
According to the National Weather Service, several inches of rain have already fallen in the North Bay and are expected to spread further south in the region.
San Francisco, CA
This $300,000 San Francisco home is a hot sale — but here's the catch
SAN FRANCISCO (KGO) — How would you like to buy a house in San Francisco for $300,000?
There’s one out there, but it is going to need some work.
It’s on Lowell Street near Morse Street in the Crocker-Amazon neighborhood, and it is definitely a fixer-upper. There is no bathroom, kitchen, running water or electricity–and it has heavy fire damage.
But, there’s a good selling point for the property.
MORE: CA housing affordability crisis has been decades in the making — what got us here?
“The lot itself is about almost 2,600 square feet. It’s pretty narrow but goes back a ways. So, as it is, the house has a very large backyard. But if you were to knock down the house but could build something within in that whole parcel, you could have a sizeable single family home, or potentially a multi-unit building, according to the listing agent,” said Garrett Leahy with the San Francisco Standard, who covered the story.
One thing that could add to any obstacle: if someone wants to knock it down and start over, they’ll need to get a demolition permit and new plans approved.
Tuesday was the deadline to make an offer.
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