California CRE News In Your Inbox.

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

Sub Markets

Property Sectors

Topics

California  + Bay Area  + Office  | 

Presidio’s Commercial Portfolio Ends ’23 with 97% Occupancy

Commercial leasing operations in the Presidio of San Francisco closed the 2023 calendar year with an occupancy rate of 97%, surpassing the San Francisco downtown occupancy rate of 65%, according to the Presidio Trust. Twenty-seven new leases for a total of 71,228 square feet were signed, and 42 existing tenants renewed 104,058 square feet.

The Presidio’s total commercial portfolio is 91 buildings spanning 2.2 million square feet, with 174 tenants. The trust said demand has been strong due to the attraction of its unique park-like setting, low density environment and the financial model that gives back—tenants and their customers appreciate that the revenue from leasing operations supports the Presidio as a public national park site.

“We chose to move to the Presidio because the location is ideal for our employee-base in Marin and the city,” said Scott Swisher, managing director, head of western region originations, ACORE Capital. “The bay and bridge views from the office, the safety of the park, and ample nearby parking make it ideal for hosting clients, guests, and investors. We feel the location will allow us to attract and retain high quality talent and continue to grow our client- and capital-base going forward.”

Connect

Inside The Story

Presidio Trust

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Lease
New call-to-action
New call-to-action