Bay Area office vacancies hit record highs

Office vacancies in the Bay Area's largest cities have hit all-time highs, with San Francisco's vacancy rate reaching nearly 37%. Vacancies in San Francisco, Oakland/East Bay, San Jose, and the North Bay have increased due to downsizing, job cuts, and remote work trends. Despite this, there is optimism as leasing activity is picking up, and there are signs of a rebound in tech employment. The city may re-imagine itself with the rise of artificial intelligence and the evolving tech industry. Salesforce has also announced 300 more job cuts.