CBRE

San Francisco has been facing extraordinarily high office vacancy rates since the pandemic. But more recently, the rise of artificial intelligence (AI) has stimulated demand for space and an influx of capital. Real estate investor Glenn Gilmore and CBRE’s Mike Taquino discuss the city’s history of resilience, culture of innovation and greatest opportunities. Insights to Share:&nbsp;<ul><li>Venture capital firms, particularly those focused on AI, are increasingly establishing offices in San Francisco, which is driving demand for office space.</li></ul>&nbsp;<ul><li>San Francisco’s well-known headwinds have caused investors to shy away from what could be &nbsp;generational buying opportunities.</li></ul>&nbsp;<ul><li>AI is driving significant changes in San Francisco's real estate market, in terms of the types of offices needed and the locations most in demand. AI is also encouraging shorter lease terms, reflecting the fast-moving nature of tech companies.</li></ul>&nbsp;&nbsp;<ul><li>San Francisco’s tenants are showing a preference for high-end and creative office space, as well as a preference for sustainability and adaptive reuse.</li></ul>

Mike Taquino, with 15 years of real estate experience, is an Executive Vice President and a partner on the CBRE Northern California Capital Markets Institutional Properties team. He specializes in investment and development sales in the San Francisco Bay Area. Mike excels at understanding real estate trends and successfully closing transactions on behalf of his clients. He consistently ranks among the top producers in the San Francisco office.


Mike Taquino

Executive Vice President, CBRE

Based in San Francisco, Glenn has spent 25 years as a real estate entrepreneur. His firm, Brick & Timber Collective, specializes in marrying real estate and technology innovation to convert historic assets into functional high-end spaces. They have been actively engaged in San Francisco, Los Angeles and Miami.


Glenn Gilmore

Founder, Brick & Timber Collective

Down by the Bay: AI and the future of San Francisco real estate

What matters most right now in Commercial Real Estate. Business leaders join economic, industry and subject matter experts to share their distinct views and latest thinking. The Weekly Take is hosted by Spencer Levy, CBRE’s Senior Economic Advisor and Global Client Strategist. More at cbre.com/TheWeeklyTake