October 3rd, 2008
Friday Updates: The latest news in stories from the past couple of weeks
Information is becoming outdated quickly in San Francisco. The financial services industry continues to deteriorate, which changes the landscape of potential space coming back to the market on almost a daily basis. The truth is that real estate is a major expense associated with being in business, and as mergers and acquisitions sort themselves out we can be certain those in charge will seek to cut expenses by combining departments and facilities. To what level this will occur is unknown, but I expect most of it will not be sorted out for 1-2 years.
Below you will find links to stories published this week that give more clarity and new information to posts we have written over the past couple of weeks.
Wachovia, Wells Fargo agree to merge (Globe St.)
Tishman Completes 555 Mission High-Rise (Costar)
Office Space is Emptying Out (Wall Street Journal)
Rental market for office space braces for blow (San Francisco Chronicle)
Transbay CAC Meeting Moved to October 16th (Rincon Hill SF)
SB 375 and AB 1358: Victory for Livability Legislation (Transbay Blog)
If there is anything I can do to help you as a Tenant Representative in the commercial real estate world, please do not hesitate to get in touch with me.
Thanks for visiting,
Tom Poser, Jones Lang LaSalle, San Francisco
