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San Francisco Office Market Dynamics, Q1 2026

The San Francisco edition covers the AI-driven recovery in the office market, with leasing momentum concentrated in higher-quality, amenity-rich buildings.

OfficeSan FranciscoCalifornia
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Leasing activity grew 7.6% versus Q1 2025 and net absorption stayed positive for a third consecutive quarter, while the construction pipeline fell to 22.3 million square feet, the lowest in JLL's data.

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