Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Bay Area + San Francisco  + Office  |  January 11, 2023
DocuSign Downsizes in San Francisco Lease Renewal, Avison Young Reports 23.7% Vacancy Rate
Mark Nieto
By: Mark Nieto

DocuSign Downsizes in San Francisco Lease Renewal

It’s good news, bad news for the struggling San Francisco office sector as document signing software company DocuSign has decided to stay in its headquarters on 221 Main Street, but will be taking up far less space. According to the San Francisco Business Times, the firm has reduced its footprint from 150,000 square feet to about 93,000.

The renewal is certainly a boost to San Francisco’s ailing market, but it also indicates that the hybrid work strategy brought on by the pandemic is not going away anytime soon. A new report from Avison Young indicates that the San Francisco 4th quarter vacancy rate now stands at 23.7% with a total net absorption of negative 13.7 million square feet since the onset of Covid-19.

Other examples of San Francisco downsizing includes architecture firm Gensler which moved locations, minus 10,000 square feet, and tech company Pinterest which is leaving its SoMa office once the lease ends in June.

Read More News Stories About: Avison Young, Gensler
Connect

Inside The Story

DocuSign

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
Order Reprints
  • ◦Lease
New call-to-action
New call-to-action
New call-to-action