Hear my prayer:Nearly 12 Million Square Feet of Vacant Office Space in San Francisco.
32 Replies to “O, Sweet Saint Of San Andreas”
That sounds about as bad as what’s happened in Calgary.
CTV is reporting that 43,000,000 feet are empty in Calgary, though San Francisco is about 6 million people to our 1.2 million.
I actually think this figure may be in error, it seems too high.
Knowing the rate is this high in Calgary, doesn’t do anything to still the hate that CrimeMinister Trudeau has for us in the west…. though the feeling is entirely mutual for many of us.
It’s eerie to look at downtown Calgary every time I fly over it and realize that many of those buildings, most of which were constructed during the boom times, are largely empty.
I’m sure Prinz Dummkopf would gladly use that unoccupied floorspace to house his “new Canadians”.
Worse is that large parts of the country outside of Alberta not only let him get away with it but encourage that as well.
In view of what I just wrote, can anyone tell me why I should feel sorry for Fishland now that the following has happened:
You know, Fishland….. the part of the country that went overwhelmingly for Prinz Dummkopf in the last election.
A good friend of mine, while visiting his sister in Calgary, told me that many of the older office buildings are being converted to condominiums.
To anyone who lives in Calgary, can this be confirmed?
It’s a few, not many. The costs to convert are very high, making the converted product nearly as expensive as new construction. The conversions often have design compromises (no patio or Windows that open, odd layouts) from the existing structure which make the building less competitive with new construction. There is an excess of new construction in the market already, meaning you have no price advantage, inferior product, and a lot of competition. The only way to make it work is if you can buy the office building for $50.00 -$75.00/sf which is likely about a 75% price reduction from what the current owner paid for it… Those buildings rarely trade for a loss that large unless the owner is in distress. At most there is ~400,000sf of product that could be converted downtown which doesn’t make a dent in the 11.3msf of vacant space.
San Francisco has fewer than a million. The story is about San Francisco, not the entire Bay Area.
Yes. Look at a map of SF. It’s about 5 X 7 miles, if I remember. It’s a confusing, maze-esque rabbit warren but actually quite small. Driving around there even back in the good old days could be challenging which is one reason why many people didn’t own cars.
43 million is the total downtown inventory tracked by CBRE.
I’m looking at preliminary Q3 stats from C&W that shows Downtown at 11.3m vacant / 44.3m inventory = 26.0% vacancy and Calgary Total at 16.8m vacant / 70.5m inventory = 27.0% vacant. Likely heading to 30%
I didn’t look into the total square footage available in Calgary, only that the CTV number of 43 million empty seemed too high to believe.
And correct, there’s nothing on the horizon to lead one to think that just under 30% won’t soon be just over 30% empty.
Calgary is such a gorgeous city. It’s sad to see so many of North America’s metropolitan areas circling the drain.
VACANT Downtown office space is one thing….take a drive through Foothills Industrial and you won’t see many cars in the Hundreds of Shops it contains. IT’S Deader than it ever was and I incl the 1980’s. Good friend of mine and ex colleague, Welding Equip/Gas sales was saying his phone had not rung for 3 straight days. NOTHING.
And in City hall they concern themselves with a huge slate of potential new taxes, raising BLM Murals and lowering Residential speed limits to 30km/hr.
Disgusting Leftist LOSERS the lot (Jeremey Farkas notwithstanding)
Yeah it’s sad, fabrication is being replaced by logistics. We’re just a shipping hub now, not creating anything…
Amazon’s building a huge complex about 10 minutes drive south of Edmonton. A lot of the fab shops in my end of town have either gone out of business or re-located to where rent is cheaper.
take a drive through Foothills Industrial and you won’t see many cars in the Hundreds of Shops it contains
I noticed the same thing shortly after my father died nearly 4 years ago. Driving east along 51st Avenue, I saw a lot of good commercial and industrial property idle and empty. That seems to have improved after the election of Jasonandrew Kenneysheer.
Yes, this is the fault of PM JT and his henchmen.
As you’ve just said, downtown Calgary is a virtual ghost town. It’s hard to believe the things that are happening to Alberta and to the economy.
In the SW part of the City, besides Lowes and Rona closures, now two more established businesses have recently shut their doors permanently. They are Nygard Fashion Park and Addition Elle in Shawnessey SW Calgary.
As I mentioned quite a while ago, I had a conversation with someone from Calgary last year. We discussed a surface grinder that I had for sale and he said that even if he had the money, there was no point in putting in an offer because there was no work for it.
No work….. for a top-of-the-line machine tool….. in a part of the country that is renowned for custom fabrication. That’s unheard of.
Fortunately, a shop in B. C. needed a grinder in a hurry because of an upcoming job and I sold the machine to it late last year.
Similarly, I had a saw blade sharpening machine for sale. In better times, any number of forestry or wood product mill would have been interested in it. I received only one proper offer and I closed the deal on it a few months ago. It could have been sold earlier, but there’s this business about a phony-baloney plague that held things up. Can’t ship something down east when trucks aren’t running.
Thanks for nothing, Prinz Dummkopf.
The grocery stores and liquor stores are doing just fine. Everywhere else I go it’s dead.
Depression / Recession or not, glad to learn that you have found some new homes for the equipment. Good for you!
The machines were the tricky part of settling the estate. After all, not everyone needs a surface grinder. Then again, I could have sold those machines earlier if it wasn’t for you-know-who.
I still have a lot of work left and that’ll be quite frustrating. I’ve got perfectly good furniture that I need to get rid of, though the stuff in the living room needs to be reupholstered. The stuff was built more than 40 years ago, so the frames should be plywood or solid lumber, not particle board.
Think I can sell any of it? Nope. If they want to buy it, they’ll want it dirt cheap or free. Or, they’d rather buy that made-in-China garbage which’ll fall apart after a few years and gets thrown out without any repairs attempted.
Of course, that’s assuming that people have money to spend. There’s not a lot of it in Fort St. John unless one happens to be working for the provincial government.
My brother-in-law settles estates for about a dozen attorneys in Nebraska and Iowa. The furniture is the hardest part of his job. Property has to be cleared out, everyone has particular tastes, so nearly 100% of the furniture ends up in a dumpster. We’ve been attempting to furnish a couple of houses with quality, used furniture. I’m certainly not a maven of style but what people put in their homes gives one pause. Only one estate out of dozens so far had anything of value and style.
nearly 100% of the furniture ends up in a dumpster
A few days ago, some jackass responded to my ad for some living room furniture by telling it was junk (at least 40 years old with a robust frame maybe made out of plywood is junk?) and that I should pay someone to haul it away.
I’m old country European and we rarely threw stuff out unless it was completely ruined or unusable. I also went through the aftermath of PET’s NEP and I used things until they fell apart. I shudder at the thought of tossing furniture that only needs to be refurbished into the dumpster.
It disgusts me that people nowadays fit Oscar Wilde’s definition of a cynic, knowing the price of everything and the value of nothing. I guess they have it too good.
Government busy killing businesses and people with mandates, edicts, rules, regulations all with the goal of communist control. I use that word because it describes the end game.
“Build back better” means we the peasants are expected to move into the greeniest of green housing with walls made of sticks daubed with mud and thatched roofs. There’ll be plenty of room in our yards for chickens and goats plus there’ll be space to park our oxcarts.
Yup, the “elite” would like nothing better than to go back to the good old days before that horrible Magna Carta, when starvation and pestilence kept the numbers of the Great Unwashed in check. They, of course, will reside in their castles.
Proles are expected to live and die in their social class. Anyone moving out of it will and must be severely punished. The caste system exists for a reason and that’s to keep the proles in their proper place.
It reminds me of that dreadful movie from a few years ago Elysium with Jodie Foster and Matt Damon. The proles live in a setting similar to what I just described while the rich, the rightful rulers, live on a luxurious space station.
Isn’t that what the oft quoted “Sustainable Planet” is all about BA.??
The one MAurice Strong advocated back in the 60’s…a Depopulated planet with at most, 1 Billion Humans: 999,000,000 million of them – Salves to cater to the 1 Million planetary Elites.
I wonder if this upcoming, most likely mandatory VACCINE has squat to do with the Whu who flu and possibly be one to sterilize a massive portion of humanity…yea I know it’s Tin foil Hat stuff. “they wouldn’t..!!” But then who in 1923 thought we would see EXTERMINATION Kampfs…hmm??
I put NOTHING Past the Liberals these days. I note they are already taking quotes for their Internment Kampfs.
Steakman, I read that the vaccine trials with the guinea pig peoplekind isn’t going too well. Some had bad side effects.
Not so fast GOVERNMENT BULLIES.
We don’t want your crap.
You big shots, GO FIRST!
You big shots, GO FIRST!
But they’re so vital, so important! They can’t be spared for experiments! But the proles, well, there’s so many of them and if we lose a few of them, who’s going to notice?
A very good friend today went on a tirade about vaccines containing a chip to track our movement, pay bills, you name it. Basically, no chip – no eat. She was deadly serious. I don’t know where she picked up the information, but a few, short months ago I would have dismissed the story out of hand. Now…
That’s the EXACT vision all these Silicon Valley suburban moms have. They are all raising chickens in their cushy high-tech suburban homes. As-if … they are “living a simpler lifestyle”. Utter bullshit. They’d be LOST without an internet connection, their Tesla, and ALL the luxuries of modern life.
B A , I must say that as an old man with not much time left on the clock I was so pissed off when I got back from Florida my condo literally locked us up and even called the police on us. I could have sued but instead I left and am now living in a new house, just built, and unless a cop wants to kill me I am never going to be locked down again. I said to my wife when we moved to the condo that it would be great and it was for 12 years, until the terminally stupid took over and the whu who flu fucked everybody out of their tiny minds. This has to stop. Does anyone even think anymore???
They should turn the offices into luxury suites for the homeless and see how this works out!
If what they’ve already done to rooms in luxury hotels they’ve been housed in is any indication, that might be a waste of time.
Residential Rents in SF crater by up to 31%. And my youngest son works for a very large multi-family investment firm focusing on ONLY the Silicon Valley. Their rents are down 20% across the 20,000 units they own and operate. Why? COVID and Gov. Gavin Newsom who has made rent-paying “optional” for all Californian’s who cannot “afford” their rent. In a related story … purchases of luxury goods are exploding throughout CA.
Oh! And to make matters WORSE for the Commercial Property owners … they are about to LOSE their Prop. 13 protections through Proposition 15. Why? Because Marxist CA voters are sure to “stick it to the RICH” who own Commercial Property … and make them “pay their fair share”. Dudes! … it will end in either a) increased rents, or b) bankruptcy. IDIOT CA voters!!
That sounds about as bad as what’s happened in Calgary.
CTV is reporting that 43,000,000 feet are empty in Calgary, though San Francisco is about 6 million people to our 1.2 million.
I actually think this figure may be in error, it seems too high.
https://calgary.ctvnews.ca/more-than-28-per-cent-of-calgary-s-downtown-office-space-is-vacant-cbre-1.5127020
Knowing the rate is this high in Calgary, doesn’t do anything to still the hate that CrimeMinister Trudeau has for us in the west…. though the feeling is entirely mutual for many of us.
It’s eerie to look at downtown Calgary every time I fly over it and realize that many of those buildings, most of which were constructed during the boom times, are largely empty.
I’m sure Prinz Dummkopf would gladly use that unoccupied floorspace to house his “new Canadians”.
Worse is that large parts of the country outside of Alberta not only let him get away with it but encourage that as well.
In view of what I just wrote, can anyone tell me why I should feel sorry for Fishland now that the following has happened:
https://www.youtube.com/watch?v=3RUXR3rXFMQ
You know, Fishland….. the part of the country that went overwhelmingly for Prinz Dummkopf in the last election.
A good friend of mine, while visiting his sister in Calgary, told me that many of the older office buildings are being converted to condominiums.
To anyone who lives in Calgary, can this be confirmed?
It’s a few, not many. The costs to convert are very high, making the converted product nearly as expensive as new construction. The conversions often have design compromises (no patio or Windows that open, odd layouts) from the existing structure which make the building less competitive with new construction. There is an excess of new construction in the market already, meaning you have no price advantage, inferior product, and a lot of competition. The only way to make it work is if you can buy the office building for $50.00 -$75.00/sf which is likely about a 75% price reduction from what the current owner paid for it… Those buildings rarely trade for a loss that large unless the owner is in distress. At most there is ~400,000sf of product that could be converted downtown which doesn’t make a dent in the 11.3msf of vacant space.
San Francisco has fewer than a million. The story is about San Francisco, not the entire Bay Area.
Yes. Look at a map of SF. It’s about 5 X 7 miles, if I remember. It’s a confusing, maze-esque rabbit warren but actually quite small. Driving around there even back in the good old days could be challenging which is one reason why many people didn’t own cars.
43 million is the total downtown inventory tracked by CBRE.
I’m looking at preliminary Q3 stats from C&W that shows Downtown at 11.3m vacant / 44.3m inventory = 26.0% vacancy and Calgary Total at 16.8m vacant / 70.5m inventory = 27.0% vacant. Likely heading to 30%
I didn’t look into the total square footage available in Calgary, only that the CTV number of 43 million empty seemed too high to believe.
And correct, there’s nothing on the horizon to lead one to think that just under 30% won’t soon be just over 30% empty.
Calgary is such a gorgeous city. It’s sad to see so many of North America’s metropolitan areas circling the drain.
VACANT Downtown office space is one thing….take a drive through Foothills Industrial and you won’t see many cars in the Hundreds of Shops it contains. IT’S Deader than it ever was and I incl the 1980’s. Good friend of mine and ex colleague, Welding Equip/Gas sales was saying his phone had not rung for 3 straight days. NOTHING.
And in City hall they concern themselves with a huge slate of potential new taxes, raising BLM Murals and lowering Residential speed limits to 30km/hr.
Disgusting Leftist LOSERS the lot (Jeremey Farkas notwithstanding)
Yeah it’s sad, fabrication is being replaced by logistics. We’re just a shipping hub now, not creating anything…
Amazon’s building a huge complex about 10 minutes drive south of Edmonton. A lot of the fab shops in my end of town have either gone out of business or re-located to where rent is cheaper.
take a drive through Foothills Industrial and you won’t see many cars in the Hundreds of Shops it contains
I noticed the same thing shortly after my father died nearly 4 years ago. Driving east along 51st Avenue, I saw a lot of good commercial and industrial property idle and empty. That seems to have improved after the election of Jasonandrew Kenneysheer.
Yes, this is the fault of PM JT and his henchmen.
As you’ve just said, downtown Calgary is a virtual ghost town. It’s hard to believe the things that are happening to Alberta and to the economy.
In the SW part of the City, besides Lowes and Rona closures, now two more established businesses have recently shut their doors permanently. They are Nygard Fashion Park and Addition Elle in Shawnessey SW Calgary.
As I mentioned quite a while ago, I had a conversation with someone from Calgary last year. We discussed a surface grinder that I had for sale and he said that even if he had the money, there was no point in putting in an offer because there was no work for it.
No work….. for a top-of-the-line machine tool….. in a part of the country that is renowned for custom fabrication. That’s unheard of.
Fortunately, a shop in B. C. needed a grinder in a hurry because of an upcoming job and I sold the machine to it late last year.
Similarly, I had a saw blade sharpening machine for sale. In better times, any number of forestry or wood product mill would have been interested in it. I received only one proper offer and I closed the deal on it a few months ago. It could have been sold earlier, but there’s this business about a phony-baloney plague that held things up. Can’t ship something down east when trucks aren’t running.
Thanks for nothing, Prinz Dummkopf.
The grocery stores and liquor stores are doing just fine. Everywhere else I go it’s dead.
Depression / Recession or not, glad to learn that you have found some new homes for the equipment. Good for you!
The machines were the tricky part of settling the estate. After all, not everyone needs a surface grinder. Then again, I could have sold those machines earlier if it wasn’t for you-know-who.
I still have a lot of work left and that’ll be quite frustrating. I’ve got perfectly good furniture that I need to get rid of, though the stuff in the living room needs to be reupholstered. The stuff was built more than 40 years ago, so the frames should be plywood or solid lumber, not particle board.
Think I can sell any of it? Nope. If they want to buy it, they’ll want it dirt cheap or free. Or, they’d rather buy that made-in-China garbage which’ll fall apart after a few years and gets thrown out without any repairs attempted.
Of course, that’s assuming that people have money to spend. There’s not a lot of it in Fort St. John unless one happens to be working for the provincial government.
My brother-in-law settles estates for about a dozen attorneys in Nebraska and Iowa. The furniture is the hardest part of his job. Property has to be cleared out, everyone has particular tastes, so nearly 100% of the furniture ends up in a dumpster. We’ve been attempting to furnish a couple of houses with quality, used furniture. I’m certainly not a maven of style but what people put in their homes gives one pause. Only one estate out of dozens so far had anything of value and style.
nearly 100% of the furniture ends up in a dumpster
A few days ago, some jackass responded to my ad for some living room furniture by telling it was junk (at least 40 years old with a robust frame maybe made out of plywood is junk?) and that I should pay someone to haul it away.
I’m old country European and we rarely threw stuff out unless it was completely ruined or unusable. I also went through the aftermath of PET’s NEP and I used things until they fell apart. I shudder at the thought of tossing furniture that only needs to be refurbished into the dumpster.
It disgusts me that people nowadays fit Oscar Wilde’s definition of a cynic, knowing the price of everything and the value of nothing. I guess they have it too good.
Government busy killing businesses and people with mandates, edicts, rules, regulations all with the goal of communist control. I use that word because it describes the end game.
“Build back better” means we the peasants are expected to move into the greeniest of green housing with walls made of sticks daubed with mud and thatched roofs. There’ll be plenty of room in our yards for chickens and goats plus there’ll be space to park our oxcarts.
Yup, the “elite” would like nothing better than to go back to the good old days before that horrible Magna Carta, when starvation and pestilence kept the numbers of the Great Unwashed in check. They, of course, will reside in their castles.
Proles are expected to live and die in their social class. Anyone moving out of it will and must be severely punished. The caste system exists for a reason and that’s to keep the proles in their proper place.
It reminds me of that dreadful movie from a few years ago Elysium with Jodie Foster and Matt Damon. The proles live in a setting similar to what I just described while the rich, the rightful rulers, live on a luxurious space station.
Isn’t that what the oft quoted “Sustainable Planet” is all about BA.??
The one MAurice Strong advocated back in the 60’s…a Depopulated planet with at most, 1 Billion Humans: 999,000,000 million of them – Salves to cater to the 1 Million planetary Elites.
I wonder if this upcoming, most likely mandatory VACCINE has squat to do with the Whu who flu and possibly be one to sterilize a massive portion of humanity…yea I know it’s Tin foil Hat stuff. “they wouldn’t..!!” But then who in 1923 thought we would see EXTERMINATION Kampfs…hmm??
I put NOTHING Past the Liberals these days. I note they are already taking quotes for their Internment Kampfs.
Steakman, I read that the vaccine trials with the guinea pig peoplekind isn’t going too well. Some had bad side effects.
Not so fast GOVERNMENT BULLIES.
We don’t want your crap.
You big shots, GO FIRST!
You big shots, GO FIRST!
But they’re so vital, so important! They can’t be spared for experiments! But the proles, well, there’s so many of them and if we lose a few of them, who’s going to notice?
A very good friend today went on a tirade about vaccines containing a chip to track our movement, pay bills, you name it. Basically, no chip – no eat. She was deadly serious. I don’t know where she picked up the information, but a few, short months ago I would have dismissed the story out of hand. Now…
That’s the EXACT vision all these Silicon Valley suburban moms have. They are all raising chickens in their cushy high-tech suburban homes. As-if … they are “living a simpler lifestyle”. Utter bullshit. They’d be LOST without an internet connection, their Tesla, and ALL the luxuries of modern life.
B A , I must say that as an old man with not much time left on the clock I was so pissed off when I got back from Florida my condo literally locked us up and even called the police on us. I could have sued but instead I left and am now living in a new house, just built, and unless a cop wants to kill me I am never going to be locked down again. I said to my wife when we moved to the condo that it would be great and it was for 12 years, until the terminally stupid took over and the whu who flu fucked everybody out of their tiny minds. This has to stop. Does anyone even think anymore???
They should turn the offices into luxury suites for the homeless and see how this works out!
If what they’ve already done to rooms in luxury hotels they’ve been housed in is any indication, that might be a waste of time.
https://www.msn.com/en-us/money/realestate/san-francisco-apartment-rents-crater-up-to-31-25-most-in-us/ar-BB19YsKZ
Residential Rents in SF crater by up to 31%. And my youngest son works for a very large multi-family investment firm focusing on ONLY the Silicon Valley. Their rents are down 20% across the 20,000 units they own and operate. Why? COVID and Gov. Gavin Newsom who has made rent-paying “optional” for all Californian’s who cannot “afford” their rent. In a related story … purchases of luxury goods are exploding throughout CA.
Oh! And to make matters WORSE for the Commercial Property owners … they are about to LOSE their Prop. 13 protections through Proposition 15. Why? Because Marxist CA voters are sure to “stick it to the RICH” who own Commercial Property … and make them “pay their fair share”. Dudes! … it will end in either a) increased rents, or b) bankruptcy. IDIOT CA voters!!