By Kevin V. Nguyen : sfstandard – excerpt

The same companies that fueled the city’s last real estate boom are also the ones contributing to its latest bust

In the 2010s, blue-chip tech firms like Uber, Airbnb, Dropbox, Meta and Salesforce spent hundreds of millions of dollars opening glamorous, amenity-filled offices in downtown San Francisco, spurring a building boom that altered the city’s skyline.

After a global pandemic and a wholesale shift to hybrid work, those same firms have retreated en masse—leaving the city’s now hollowed-out downtown to pay the price…

Big Tech’s San Francisco Pullback

San Francisco’s 20 largest tech employers have cut the office space they lease in the city from 16.1 million square feet in 2019 to 8.3 million square feet today.

The 7.8 million square feet left vacant is equal to more than 15 Transamerica Pyramids, five Salesforce Towers and two-and-a-half Apple Parks…(more)