What shocks me is that 64% of the office space remains filled!
Unless much of this is contracts leases that have not yet run out.
When the real estate industry measures occupancy and vacancy rates, commercial space is considered “occupied” as long as there is a lease in place — even if nobody is using it and the lights haven’t been turned on in months. SF’s office occupancy rate will continue to decline as more and more leases on these unused offices expire.