Quote:
Originally Posted by BTinSF
It will take years of rapid economic recovery to soak it all up (and raise the rents from the mid $30s/sq ft back toward the all-time peaks of close to $100 for trophy space).
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Some properties are presently commanding such high rents: 101 California st is advertising 1185 sq. ft. for $120+ psf.
http://www.loopnet.com/xNet/MainSite...064&StepID=101
Also, average rents are actually slightly rising, due to large high profile tenants (the rich ba$tards) competing for limited space, and the class B or class A "vanilla" tenants are finding it renter's paradise due to excess vacancy.
Since Transbay Tower will be one of the most significant new buildings in the country, and the tallest on the west coast, I'm confident it would fill up with these high priced occupants.
One last thing, I find it intriguing that 101 California is 1.2 million sq. ft. of offices and Transbay Tower would be 1.5 million, a testament to just how thin it would actually be, structurally.