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.”