Nearly 12M Square Feet of Vacant Office Space in S.F

Re:Nearly 12M Square Feet of Vacant Office Space in S.F by bobbyi_settv on Sunday October 25, 2020 @06:20PM (#24890512)

A 12 month lease for commercial real estate in SF?

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Re:Nearly 12M Square Feet of Vacant Office Space in S.F by dguaraglia on Sunday October 25, 2020 @07:31PM (#24891137)

That's not uncommon. Our office in North Beach was a 12-month deal. In fact, contracts tend to be longer (24 months or so).

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Re:Nearly 12M Square Feet of Vacant Office Space in S.F by ComputerGuru on Sunday October 25, 2020 @07:44PM (#24891242)

I think that was the point. 12 months is atypically short.

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Re:Nearly 12M Square Feet of Vacant Office Space in S.F by rightbyte on Sunday October 25, 2020 @08:59PM (#24891746)

Of leases 24 months long the average lease should be 12 months in right now (given steady state). I.e half of them expire in a year. Lets say that they realised this summer that things will be different then the effect should gradually start to show almost immediately.

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Re:Nearly 12M Square Feet of Vacant Office Space in S.F by sokoloff on Sunday October 25, 2020 @07:45PM (#24891249)

I think that was GP’s point. We have a few one-year leases on small spaces, but most of ours are 5 year leases, usually with renewal options, sometimes with break options (for $$) at 3 years.

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Re:Nearly 12M Square Feet of Vacant Office Space in S.F by freehunter on Tuesday October 27, 2020 @01:21PM (#24909575)

Or anything that‘s a multiple of 12. If the lease was signed in Q2 of any year, it will be up for renewal in Q2.

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