Who's Rising The Most?
Now here's a fun fact: 50 Fremont experienced one of the biggest rent increases from Q1 2013 to Q1 2014 in the city, jumping 19% from $49.63 to $59.11, according to Cushman data provided to Bisnow. Last month, House Democratic Leader Nancy Pelosi joined Mayor Ed Lee in the building to announce the gigantic Salesforce lease across the street at First and Mission. (The actual Salesforce building will be large enough to fit Ed inside.) One of the most expensive buildings to call home is 101 Cal, which increased rents nearly 4% year-over-year to $75.39/SF.
Tech and energy hubs experienced some of the biggest rent increases over the year, according to Cushman head of research for the Americas Maria Sicola. Across the US, direct Class-A asking rents in Houston’s CBD had the greatest increase quarter over quarter, jumping 9.1% to $41.98/SF, followed by S.F., which rose 3.8% to $60.20/SF. Gateway markets including New York, S.F. and Boston led the US with the lowest vacancy. Two submarkets had single digits: Midtown South New York (7.9%) and S.F. (9.8%).