Local CRE Trends

Discover What’s New and Interesting in Our Backyard

San Francisco is home to more than 860,000 residents in the city proper and approximately 8.7 million residents in the greater metropolitan area. It is currently undergoing a population boom and is the second fastest-growing city in the country, according to Forbes. San Francisco is also a magnet for highly skilled professionals; 70 percent of San Franciscans over 18 have received training beyond high school, and nearly 50 percent speak a language other than English, according to the San Francisco Center for Economic Development.

San Francisco is home to six Fortune 500 companies, more than any other region except for the Tri-State New York City region. San Francisco is home to more than 300 IT firms and supports a workforce of over 71,000 skilled IT professionals, according to the San Francisco Center for Economic Development. The area also produces more Ph.D. scientists and engineers than any other metropolitan area in the U.S.

San Francisco boasts a healthy and diverse economy. Key sectors include IT & software, social & digital media; life sciences & biotech; environmental & clean technology; professional services; and international business. The San Francisco Bay Area’s IT industry expertise and long tradition of creative arts have positioned the city as a magnet for digital entertainment companies. More than 300 digital media companies operate in the Bay Area, including YouTube, Electronic Arts, Zynga, Twitter, Dolby Laboratories, Pixar, Sony, Sega of America, Konami Digital Entertainment America, and PDI DreamWorks SKG.

The life sciences industry is also growing; this sector has generated close to $113.8 billion in output, increased labor income by $34 billion per year, augmented total state gross product by $68.6 billion, and helped support 302,000 direct and indirect jobs in the region, according to the San Francisco Center for Economic Development. The environmental and clean technology sector is also in a growth phase; the area boasts the largest concentration of clean technology investors in the U.S., according to the San Francisco Center for Economic Development.

San Francisco is undergoing a wave of very strong commercial activity, with established technology companies assuming large blocks of space, according to the San Francisco Center for Economic Development. New developments include Salesforce Tower, a 1,070-foot office skyscraper under construction in the South of Market district of downtown San Francisco, and 350 Bush Street, a 19-story office tower under construction in the financial district. Demand for commercial space is expected to be strong in the coming year due to a scarcity of inventory and an influx of technology companies.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #402 on the 2019 Fortune 500®*, and is among numerous defense, energy, media, hospitality and financial Fortune 500®* companies based in the region. Our San Francisco-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*From FORTUNE Magazine, June 2019 ©2019 Time Inc. Used under license. FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Fidelity National Financial.

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