San Francisco Chart of the Week: Growing Companies Sticking to Shorter Leases
More and more tech companies are driving demand for office space, but many of them—looking to grow—are seeking shorter term lengths.
According to JLL, more than 30% of deals completed in 2015 had terms shorter than five years. The majority of deals, however, were five-year deal terms, which made up 133 out of 423 total deals completed thus far in 2015.
Volume of these leases reflected a very similar layout. Deals with an end date in 2020 had over 947.3k SF of volume, while those with shorter terms totaled 819.3k SF.