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San Francisco Retail Space In-depth San Francisco is an excellent choice for your business. Looking to take it to the next level? The city has many incentives, programs and services.
The San Francisco commercial real estate division adds up to approximately 70 million square feet, primarily located on the east side of the City and divided into two sections: the North side o... Read More
San Francisco Retail Space In-depth San Francisco is an excellent choice for your business. Looking to take it to the next level? The city has many incentives, programs and services.
The San Francisco commercial real estate division adds up to approximately 70 million square feet, primarily located on the east side of the City and divided into two sections: the North side of Market Street (NOMA) and the South side of Market Street (SOMA). These two distinct areas are divided into approximately nine sub markets, each with specific characteristics. Jackson Square, for instance, has mostly older, mid-rise and low-rise buildings. The Central Business District (CBD) houses extensive office and retail space. The original Financial District also adds up to one of these sub markets. With only two parcels of open land remaining in the North of Market Street area—they are soon to be developed by Lincoln Property—most of the City's recent growth has occurred in SOMA.
Tourism is the backbone of the San Francisco economy. Its frequent portrayal in music, film and popular culture has made the city and its landmarks recognizable worldwide. San Francisco attracts the third-highest number of foreign tourists of any city in the United States. More than 16 million visitors arrived in San Francisco in 2007, injecting nearly $8.2 billion into the economy—both all-time high figures for the city.
Doing business with retail space in San Francisco, you’ll also be presented with many incentives provided by California, by the City and County of San Francisco, and by the federal government. California incentives include Enterprise Zones, California New Hire Tax Credit and Employment Training Panel. Incentives from the City and County include Biotechnology, Clean Technology, GreenFinanceSF, Film and Television Rebate Program, as well as many others.
Retail sales in San Francisco have increased seven straight months, according to the median estimates of many economists. There are 15 storefronts vacant in Union Square, but lease transactions have started to pick up due to eager landlords hoping to elevate the perception of a declining market and opportunistic retailers ready to pounce on favorable deals during the current economic downturn.
Tenants able to take advantage of these short-term, favorable lease transactions are mainly boutique retailers, which historically found the barrier of entry into a high-end retail market prohibitive.
San Francisco retail space puts you right in the middle of the world’s most educated workforces make it an attractive business location and an excellent long-term investment.
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