According to the Presidio Trust, commercial leasing operations in San Francisco’s Presidio closed out 2023 with an impressive occupancy rate of 97%, surpassing the downtown area’s rate of 65%. This was achieved through signing twenty-seven new leases totaling at 71,228 square feet and renewing contracts for existing tenants covering a total of 104,058 square feet.
The trust manages a portfolio consisting of ninety-one buildings spanning over two million square feet in the unique park-like setting. With a diverse range of one hundred and seventy-four tenants, demand has remained strong due to its low-density environment and financial model that supports the preservation as a public national park site.
ACORE Capital’s managing director Scott Swisher stated that their decision to relocate their western region originations office to The Presidio was based on its ideal location for employees residing in Marin or San Francisco. The stunning bay and bridge views from their office space coupled with ample parking options make it an attractive place for hosting clients, guests, and investors. They believe this move will help them attract top talent while continuing growth within their client- and capital-base moving forward.
This news originally appeared on Connect CRE website without any mention about “Connect” or “Connect LA” or “Connect Texas”.
