{"id":27937,"date":"2023-08-16T13:22:01","date_gmt":"2023-08-16T20:22:01","guid":{"rendered":"https:\/\/occupysf.net\/?p=27937"},"modified":"2023-08-16T13:22:36","modified_gmt":"2023-08-16T20:22:36","slug":"people-are-finally-starting-to-return-to-san-francisco-offices","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2023\/08\/16\/people-are-finally-starting-to-return-to-san-francisco-offices\/","title":{"rendered":"People are finally starting to return to San Francisco offices"},"content":{"rendered":"\n

By Joshua Bote<\/a> Aug 14, 2023 (SFGate.com)<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

FILE: A sign is posted on the exterior of a WeWork office on Oct. 7, 2019, in San Francisco.Justin Sullivan\/Getty Images<\/em><\/a><\/a><\/a><\/p>\n\n\n\n

Downtown San Francisco\u2019s corporate offices have struggled in comparison with other major American cities, contributing to broader anxieties over the so-called downtown \u201cdoom loop.”<\/a> <\/a><\/p>\n\n\n\n

A new report<\/a> from Bay Area corporate real estate AI startup Placer.ai found, however, that San Francisco has bounced back in a key way \u2014 seeing the largest year-over-year increase in office visits of any American city. <\/p>\n\n\n\n

San Francisco saw more than a 38% increase in office visits in July 2023 compared with July 2022. Compared with Los Angeles, which saw only a 12% increase year over year, or Miami, which saw a paltry 3% year-over-year increase, that number is a good indication that people are starting to head back into their offices downtown.<\/p>\n\n\n\n

San Francisco also saw increased demand in office space, according to a report last month <\/a>by commercial real estate group VTS. Taken together, it\u2019s a promising start for San Francisco\u2019s corporate downtown.<\/p>\n\n\n\n

In recent months, tech CEOs have ratcheted up their campaigns to draw people back into the office. Two prominent Silicon Valley CEOs \u2014 Mark Zuckerberg<\/a> and Marc Benioff<\/a> \u2014 cast aspersions on remote worker productivity in the past year. Zoom CEO Eric Yuan, meanwhile, is moving workers to a two-day model to employees\u2019 apparent chagrin. Alphabet and Apple are both tracking employee badges. And come September, Meta and investment titan BlackRock (which has San Francisco offices) will require workers to go into the office more often \u2014 likely setting the trend for even more smaller companies to do the same.<\/p>\n\n\n\n

But there\u2019s still a way to go before these indicators result in a significant recovery. San Francisco\u2019s vacancy rate as of the second quarter of 2023 was at nearly 32%, a record high that shows no signs of slowing down<\/a>. Real estate firms are selling their holdings at major losses<\/a>. And San Francisco, according to Placer.ai\u2019s statistics, still has the most drastic decline in in-office workers compared with before the pandemic \u2014 with a 55.8% decline in visits to office buildings in 2023 compared with 2019, the highest of all the major American cities it lists. <\/p>\n\n\n\n

Aug 14, 2023<\/p>\n\n\n\n

By Joshua Bote<\/a> (SFGate.com)<\/a><\/p>\n\n\n\n

Joshua Bote is the tech editor at SFGATE. He grew up in the Los Angeles area, went to UC Berkeley and has previously worked as a news reporter at USA Today and SFGATE and as a music writer at NPR. Email: joshua.bote@sfgate.com<\/strong> and Signal: 707-742-3756<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By Joshua Bote Aug 14, 2023 (SFGate.com) FILE: A sign is posted on the exterior of a WeWork office on Oct. 7, 2019, in San Francisco.Justin Sullivan\/Getty Images Downtown San Francisco\u2019s corporate offices have struggled in comparison with other major American cities, contributing to broader anxieties over the so-called downtown \u201cdoom loop.”  A new… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[475],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27937"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=27937"}],"version-history":[{"count":2,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27937\/revisions"}],"predecessor-version":[{"id":27941,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/27937\/revisions\/27941"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=27937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=27937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=27937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}