Add to that millions of square feet that are not officially vacant but are not in use either, because people are working from home.
>With all COIVD-era restrictions on office building occupancy rates having been eliminated last month, the effective office vacancy rate in San Francisco has ticked up to 20.1 percent, representing over 17 million square feet of vacant office space, with 7.76 million square feet of space which is technically leased but sitting vacant and actively being offered for sublet, which is down slightly from 7.99 million square feet of sublettable space in the first quarter of the year, and 9.33 million square feet of un-leased space, which is up from 7.97 million square feet in the first quarter, according to Cushman & Wakefield.
https://socketsite.com/archives/2021/07/over-17-million-squa...