AI startups are breathing new life into San Francisco's Northern Waterfront, leasing 23,900 square feet at Waterfront Plaza, a trend indicative of broader market recovery post-pandemic. The San Francisco Business Times notes that AI companies are among the few sectors expanding in the city, with 1.6 million square feet leased last year alone. Predictions from CBRE suggest that these startups could occupy 21 million square feet in five years, significantly reducing the current vacancy rate and creating substantial job opportunities, ultimately enhancing downtown vibrancy.
AI startups are rejuvenating San Francisco's Northern Waterfront, leasing significant space as the sector expands amidst a pandemic-affected real estate landscape.
According to CBRE, these early-stage AI companies could occupy 21 million square feet in the next five years, potentially halving the city's vacancy rate.
Colin Yasukochi of CBRE emphasizes the potential transformation of downtown San Francisco, stating, 'It could fundamentally change the vibrancy of downtown.'
AI firms now occupy a total of 5 million square feet in San Francisco, with OpenAI being a major contributor to these numbers.
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