Okay, so it’s not a great time to flip your house, and rents are rising, but there are still some real estate developments that are not bad news. Retail rents across San Francisco are up 2.6% over last year to an average of $32.11 per square foot, indicating some competitive demand. Demand = more business in the city. We love business in the city, especially when it might lead to jobs – and it looks like San Francisco’s employers might add another 14,000 jobs.
It’s important to note that the average hike in retail rent was 2.6% . Union Square’s rebounded with a 14.5% rise in rents. And in South of Market, commercial rent jumped 19.7%. Is it time to start swinging by some old haunts to make sure they stay in business? Or to start clocking how long it takes to get lunch at Caffe Centro? Ask us again in six months.
SFist Lisa, contributing