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South Bay and East Bay office markets outperform San Francisco: report

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South Bay and East Bay office markets outperform San Francisco: report


SAN JOSE — The office markets in the South Bay and East Bay — while feeble in a post-coronavirus era — still outperform San Francisco’s moribund office sector in key benchmarks.

The South Bay and East Bay display a greater degree of health — or less weakness — than San Francisco, in a comparison of the performance of these markets before and after the coronavirus outbreak, according to a report prepared by Avison Young, a commercial real estate firm.

The benchmarks to compare the three regions include the average size of an office lease, the length of a rental agreement and concessions that landlords make to tenants such as free rent, Avison Young determined.

Google Bay View campus on the grounds of the NASA Ames Research Center in Mountain View, May 2022. (Aric Crabb/Bay Area News Group)

“Silicon Valley is the epicenter of tech with decades of tenants that have withstood various economic cycles with new innovations at the rebirth of each return,” said Dina Gouveia, Avison Young’s regional lead of innovation & insight. “It will be our bellwether coming out of this downturn.”

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These are some key barometers of the health of the three markets before and after the coronavirus outbreak, according to the Avison Young research:

— Free rent. Since the coronavirus outbreak, owners of office properties are offering free rent that averages 2.4 months in Silicon Valley, 2.8 months in San Francisco and 3.8 months in the East Bay. Compared to the pre-COVID trends, the average months of free rent have risen 26% in Silicon Valley, jumped 62% in the East Bay and skyrocketed 98% in San Francisco.

The Oakland skyline is seen from this aerial view in Oakland, Calif., on Monday, May 8, 2023. (Jane Tyska/Bay Area News Group)
Downtown Oakland in an aerial view, May 2023. (Jane Tyska/Bay Area News Group)

— Lease length. Office building owners, since the COVID pandemic, have signed leases that average 62.1 months in the East Bay, 58.4 months in San Francisco and 49.9 months in the South Bay. But the length of the rental agreements is down 7.5% in the East Bay and has dropped 4.6% in San Francisco. In the South Bay, however, the length of the average lease has risen 3.7%, an indication of rising strength.

— Lease size. Since the start of COVID, office property landlords have signed leases that average 17,300 square feet in the South Bay, 14,700 square feet in the East Bay and 13,300 square feet in San Francisco. The size of the average lease has soared 27% in the South Bay, jumped 15% in the East Bay — but has plummetted 16% in San Francisco.

The sun sets behind the San Francisco skyline during rush hour on I-580 in Oakland, Calif., on Thursday, Nov. 10, 2022. (Ray Chavez/Bay Area News Group)
San Francisco skyline, seen from Interstate 580 in Oakland, November 2022. (Ray Chavez/Bay Area News Group)

“Prior to the pandemic the suburban markets (the East Bay and South Bay) weren’t as overinflated” as San Francisco, Avison Young executive Gouveia said. As a result, she added, “We didn’t see as much giveback of space” in the South Bay and East Bay compared with San Francisco.

When the coronavirus outbreak erupted, state and local government agencies imposed wide-ranging business shutdowns throughout California and the Bay Area to combat the spread of the deadly bug starting in March 2020.

Those decisions chased workers away from their offices leaving buildings empty in the Bay Area, California and worldwide.

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Tech companies, in particular, aggressively enabled their employees to work from home or other locations removed from the office.

Plus, the tech industry deployed an array of equipment and services to enable non-tech employees to work from home.

Once the economic effects of the coronavirus faded away and shutdowns ended, companies staged an uneven return to the office.

The stop-and-go return resulted from corporate decisions to shed office space and the reluctance of workers to ditch their home workspaces and return to the corporate office full-time.

As a result, numerous companies dramatically curbed their respective appetites to lease office buildings. That, in turn, caused office vacancy rates to soar to record-high levels throughout the Bay Area. In San Francisco, about one-third of that city’s offices are empty.

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“I expect Silicon Valley to recover before San Francisco as we are already seeing more return to office, lowering of rents, and stabilization,” Gouveia said. She added, “The tides are beginning to turn” in the South Bay.

 

 



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San Francisco, CA

The Best Happy Hours in San Francisco Right Now

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The Best Happy Hours in San Francisco Right Now


The primary purpose of a great happy hour is to do exactly what it promises it’s going to do: make you happy. We’ve all had those days, when work was too damn frustrating or we just couldn’t shake that thing from our mind that’s been eating at us — and there’s nothing like gathering with friends over drinks and bites, or even saddling up to a bar solo, to put a smile on your face before the evening comes around. San Francisco has tons of happy hours sprinkled throughout the city, but there are some can’t-miss ones you should seek out. Whether you’re after fresh oysters and drinks on the cheap, a rooftop with a view before sunset, or even a late-night cocktail and a bite, these S.F. happy hours will fill those needs and more.

Monday-Thursday, 3-5 p.m.

This cozy, bright space with ample sidewalk seating in the Marina packs a legit happy-hour punch for an introduction to chef/co-owner Melissa Perfit’s seafood dishes. Start with the $5 cured trout deviled eggs, with the oils from the fish melding divinely with a dash of fine olive oil sinking into the canals around the filling inside of the egg white — definitely as delicious as it sounds. The grab a pair of BBQ oysters for $8, or venture into the main menu for the Velma grilled oysters with nori, yuzu and trout roe surrounded by compound butter. Cava, a French white and Portuguese rosé are all just $7, and if you come on Tuesdays, wildly fresh Miyagi oysters are $2 all day. There’s hardly a more lovely corner of the city for a glass of wine and a dozen oysters.

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2095 Chestnut St

Daily, 2:30-5 p.m.

Sitting outside on the patio at Waterbar, looking out at the Bay Bridge, might just be the most scenic happy hour in the city. If you opt to stay inside, you’ll feel the same grandeur sitting at their gorgeous wraparound bar. It’s a beautiful Embarcadero destination with a $1.55 daily featured oyster special served with a hibiscus apple mignonette. The happy hour beer selection is $5, wine is $8 and cocktails are $10. Once happy hour is over, expand beyond these and try one of Beverage Director Valentina Moyà’s memorable drinks, like the Queen Bee with Barr Hill Gin, St. Germain, Lillet, chamomile, prosecco, honey and lemon.

399 The Embarcadero

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Monday-Friday, 4-6 p.m.

On the far edge of Golden Gate Park, across the street from the crashing waves of Ocean Beach, Park Chalet has the most thorough happy hour menu in town. While sister restaurant Beach Chalet offers an iconic dining experience upstairs, it’s the open-air dining room and grassy patio at Park Chalet that totally rules for soaking in the sun over house-brewed beers and diverse bites. All draft beers are $4. Head brewer Marco Tapiz’s Presidio IPA and the more tropical Sea Serpent IPA are killer; meanwhile, the VFW is one of S.F.’s best long-standing locally-made light beers. Start with a half dozen oysters for $14, then move into crispy buttermilk fried calamari for $8. There’s also taco, slider and wing specials to be had in this sweeping backyard patio.

1000 Great Highway

Monday-Friday, 5-8 p.m.

Time melts away when you’re sitting down at this Castro haunt on Upper Market. Blackbird’s happy hour has been so steady for so long — plus, I just love how expansive the space is; on a random weekday, it’s spacious enough to feel like you have your own small domain within it all, no matter where you’re sitting. Proper cocktails and beers are $1 off, including a house Old Fashioned, Aperol Spritz and rotating selection of local brews on draft from Temescal, Standard Deviant, etc. Oh, and you’re more than likely gonna hear solid gold ’90s R&B on the speakers. This is simply a wonderful spot for a catch-up with a friend.  

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2124 Market St

Monday-Friday, 4-6 p.m.

Quickly establishing itself as one of the most versatile spaces in the city, Cavaña — which was named one of Tales of the Cocktails’s top new cocktail bars in the U.S. — recently launched their La Hora Dorada happy hour, and it crushes. The multiculturally Latin-focused bar has drink specials led by a Margarita that’s downright transportive and a game-changing Michelada Verde with tomatillo, cilantro, cucumber, pineapple, lime and Tajín. Chef Edwin Bayone III’s chicharron de pollo (fried chicken thighs with coriander crema, salsa macha and herbed cucumber) is an absolute show-stealer, while the guacamole is an easy call to start. The latest full cocktail menu feels like a trip around the world, highlighted by drinks like the Feijoa, with Cañada rum from Oaxaca, Bolivian singani, New Zealand feijoa, honeydew lime leaf apéritif, lime and egg white (yes, please). Cavaña is a great spot for an upscale happy hour before a Giants game across the street, and the late afternoon rooftop views (of the city and the ballpark!) are truly golden. 

100 Channel St, 17th Floor

Monday-Friday, 4-6 p.m.

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While San Francisco’s SOMA and Financial District after-work scene hasn’t completely recovered since the pandemic, there’s something incredibly commendable about how the bright and sunny, women-owned Wine Down has kept chugging along through these valleys. Owned by Sarah Garand and Jaime Hiraishi, Wine Down is committed to featuring mostly small-production California wines from women, LGBTQ+ and BIPOC winemakers. Happy hour has $5 off carafes of wine and $9 pours of intriguing selections like Terah’s Orange Falanghina. Meanwhile, $7 drafts from local breweries like Harmonic, Laughing Monk and Fieldwork pair nicely with mushroom empanadas or charcuterie plates featuring local cheeses. This is a top-notch wine bar (and more) that even has a monthly wine club showcasing favorite bottles. 

685 Folsom St

Tuesday-Friday, 3-5 p.m.

Noe Valley’s Billingsgate is probably the only full-service fish market in town that sports a happy hour. On a charming stretch of 24th Street, you can get half off cava and fresh oysters — like briny shigoku and St. Simon — from one of the best seafood counters in town. If Billingsgate’s oysters might hit a little different, it’s because the fishmonger is part of local seafood purveyor Four Star Seafood, which provides fish to restaurants and markets all over the Bay Area. There’s a half dozen two-top tables inside by the fish counter and two coveted sidewalk tables outside. The menu also features poke with your choice of fish, along with cioppino, seafood salads and other delights. When you’re done with happy hour, definitely look to take home fresh fish for dinner, like Mt. Lassen trout, king salmon and local rockfish, along with something from the fresh produce and herbs selection to help you prepare it.

3859 24th St

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Tuesday-Saturday, 9 p.m. onwards

For all of the afternoon happy hours in the city, there aren’t nearly enough late-night ones. Enter the Madrigal, which offers a badass happy hour that’s especially friendly for the post-concert crowd at nearby venues off of Van Ness like Davies Symphony Hall and Rickshaw Stop. Get started with $7 beers, plus $10 wine and cocktails (the Tough Honey with Scotch, ginger and honey is aces), before digging into a house burger with truffle aioli, or the real lifesaver, a “Breakfast on a Bun” with house-made sausage, fried egg, cheddar and hash browns on a potato bun for only $9. There’s ample seating in the crescent-shaped booth area along the window, but if it’s not busy, saddle up at the bar for the best vibes. This is a rare late-night find that does things right.

100 Van Ness Ave

Monday-Friday, 4-6:30 p.m.

Inside of the Hotel Zeppelin, PLS on Post is a classic rock-and-roll and smashburger joint right off of Union Square that has some seriously boozy shakes. Happy hour features a rotating $5 cocktail like a Smoky Margarita, $6 draft beers and sangria, plus discounts on all food and shakes. So yeah…about those? Flavors like Cookies and Cream and the peanut-buttery Choco Nut are served in pretty decadent fashion, especially when you add a shot of peanut butter whiskey. It all pairs well with the Classic American smashburger heaped with caramelized onions, or the Korean Smash with gochujang cucumbers and Korean slaw. It’s a fun room, spruced up with Jerry Garcia ephemera and the Zeppelin’s groovy ’60s decor and psychedelic motifs. 

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545 Post St





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PIX Now evening edition 5-27-24

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PIX Now evening edition 5-27-24


PIX Now evening edition 5-27-24 – CBS San Francisco

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CBS News Bay Area evening edition headlines for Monday, May 27, 2024. Watch full newscasts streamed at the CBS SF website or on the app.

Website: http://kpix.com/
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San Francisco? Wine Country? Four Seasons Hotels Wants You to See Both

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San Francisco? Wine Country? Four Seasons Hotels Wants You to See Both


It always surprises me when people who love California tell me they haven’t been to Napa Valley. Wine country isn’t just some dreamy Bay Area side trip; it’s a quintessential piece of the culture and economy, shaping the very lifestyle and spirit of the region. Skipping Napa is like visiting San Francisco without seeing the Golden Gate Bridge or biting into a slice of sourdough; you’re not getting the total package.

An immersive new travel experience at two Four Seasons properties brings together the very best of San Francisco and Napa on an itinerary that mixes dining, imbibing, and sightseeing for a one-of-a-kind city-to-country adventure. In just a few glorious days (the length is up to you), the trip lays to rest the idea that the Bay Area is stuck in a downward coil of urban despair and economic struggle, sometimes referred to as the “doom loop.”

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Since its days as a gold rush settlement and through various culture waves and tech booms and busts, San Francisco has always been a comeback town, and signs show it’s on the rebound once again. Take the area around the iconic TransAmerica building, where a series of public open spaces is set to open later this year with new restaurants, shops, lounges, activities and a sky bar.

A few blocks away, Four Seasons Hotel San Francisco at Embarcadero plays a big part of the revitalization. Occupying the top 11 floors of a 48-story landmark tower, the hotel opened in 2020 (it closed during the pandemic and reopened in June 2021) with head-spinning panoramas of the city and San Francisco Bay. The property, one of two Four Seasons hotels in San Francisco (the other is on Market Street), is both a refuge from urban life and a celebration of it. The views remind you of what makes San Francisco an enchanted place, and the hotel knows how to showcase the city at its finest.

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The hotel connects guests on outings with art photographer Adam Jacobs who shows how to “make” photos rather than just “take” them. He reveals the best vantage points to view city landmarks and the bay beyond, with tips on how to capture it all in the right light. If that’s splashy enough, Adventure Cat Sailing Adventures partners with the hotel on a 1.5-hour sunset sail aboard a catamaran from Pier 39 to the Golden Gate Bridge, as evening lights up the skyline.

It’s a ten-minute walk from the hotel to Quince, a three-star Michelin restaurant that last year opened a more “approachable” salon, featuring an abbreviated tasting menu in an area with comfortable banquette seating. Or you can stay put at the Four Seasons and enjoy a flight of cocktails at the ground-floor Italian restaurant Orafo, which makes its pasta in-house and procures its meats and produce from local farms.

The city-to-country program kicks off for real with a limousine transfer to Four Seasons Resort & Residences Napa Valley in Calistoga. Open since 2021, the lush and scenic retreat on 22 acres has 85 guest rooms, two pools, two restaurants (including one with a Michelin star), a bocce ball court, a fitness center, an eight-room spa and its own boutique vineyard.

Those vines aren’t just for show. The 4.7-acre vineyard is part of an onsite, organically farmed winery, Elusa, where winemaker Jonathan Walden collaborates with legendary winemaker Thomas Rivers Brown on a carefully crafted selection of outstanding red wines. Hotel guests can enjoy an entire barrel room and tasting experience without ever leaving the property; and all in time for dinner, either at the farm-to-table restaurant Truss, or at Calistoga’s only Michelin-starred dining spot, Auro. Chef Rogelio Garcia, who worked alongside Thomas Keller at The French Laundry, runs Auro’s pleasantly relaxed kitchen with precision and playfulness. One amuse bouche dish — the chef’s take on eggnog — is served in an eggshell, laser-cut as a mini bowl and suspended on a ceramic perch shaped like a chicken leg.

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Calistoga is celebrated for its geothermal hot springs and therapeutic mud baths, which are renowned for promoting healing and relaxation. At the Four Seasons spa, guests can unwind with treatments that feature mineral-rich mud, used in scrubs and massages designed to detoxify and soothe. The spa also has outdoor misting decks, steam rooms, and tranquility lounges, perfect for shedding worldly stresses. It’s hard to imagine a better spot for experiencing the unique and eclectic charms of the Bay Area, whether you prefer urban excitement, countryside tranquility or an indulgent blend of both.



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