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The Fed Fueled SF Tech Boom Has Pushed Up Office Rents 81% in Four Years
The Information reports:
In 2010, when the average rent for top grade office space fell to $34.02
a square foot, there were 22 blocks—real estate lingo for office spaces
of 100,000 square feet or more—on the market. The city scrambled to
alter its local tax laws to keep Twitter in town and generally worked to
make itself more attractive to tech companies.
Today, with San Francisco displacing Silicon Valley as the location of
choice for many tech companies, the average price per square foot for
so-called Class A office space in San Francisco is $64.45, according to
the real estate company CBRE. That's close to the dot-com bubble peak of
$67.20 in the third quarter of 2000.
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