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Down by the Bay: AI and the future of San Francisco real estate

Down by the Bay: AI and the future of San Francisco real estate

FromThe Weekly Take from CBRE


Down by the Bay: AI and the future of San Francisco real estate

FromThe Weekly Take from CBRE

ratings:
Length:
39 minutes
Released:
Jun 17, 2024
Format:
Podcast episode

Description

San Francisco has been facing extraordinarily high office vacancy rates since the pandemic. But more recently, the rise of artificial intelligence (AI) has stimulated demand for space and an influx of capital. Real estate investor Glenn Gilmore and CBRE’s Mike Taquino discuss the city’s history of resilience, culture of innovation and greatest opportunities.Insights to Share: Venture capital firms, particularly those focused on AI, are increasingly establishing offices in San Francisco, which is driving demand for office space. San Francisco’s well-known headwinds have caused investors to shy away from what could be  generational buying opportunities. AI is driving significant changes in San Francisco's real estate market, in terms of the types of offices needed and the locations most in demand. AI is also encouraging shorter lease terms, reflecting the fast-moving nature of tech companies.  San Francisco’s tenants are showing a preference for high-end and creative office space, as well as a preference for sustainability and adaptive reuse.
Released:
Jun 17, 2024
Format:
Podcast episode

Titles in the series (100)

What matters most right now in Commercial Real Estate. Business leaders join economic, subject matter and industry experts to share their distinct views and latest thinking. Hosted by Spencer Levy, CBRE’s Chairman of Americas Research. Visit us at CBRE.com/TheWeeklyTake