CBRE projects that AI startups could expand to 21 million square feet within five years, potentially reducing the city’s 35.8% vacancy rate and creating tens of thousands of jobs. This growth could significantly enhance the vibrancy of downtown San Francisco. Waterfront Plaza, a 442,000-square-foot campus, has seen its tenant mix change with economic trends, previously hosting companies like WeWork.
Key takeaways:
- Early-stage AI startups are revitalizing San Francisco’s Northern Waterfront, leasing 23,900 square feet at the Waterfront Plaza complex.
- AI firms are expanding in San Francisco, with 1.6 million square feet leased last year and now occupying 5 million total.
- CBRE projects that AI startups could reach 21 million square feet within five years, potentially reducing the city’s 35.8% vacancy rate.
- Waterfront Plaza, a 442,000 square foot campus, has a tenant mix that shifts with economic trends, previously including WeWork.