CBRE

This week we shine a spotlight on San Francisco, a market that is showing increasing signs of shaking off the post-pandemic doldrums.&nbsp;Listen to a wide-ranging discussion as The Bay Area Council's Jim Wunderman and CBRE's Joe Wallace explore the growing impact of AI on local economy and real estate market, &nbsp;opportunities across sectors, public-private collaborations and the city's budding revival. Share these insights from this week’s episode:&nbsp;<ul><li>Tech and AI Potential: The growth of AI is contributing to an &nbsp;economic revival in San Francisco.</li><li>Office-Space Dynamics: Office leasing improved notably &nbsp;in San Francisco in Q4 2024, driven by its strong tech tenant base.</li><li>Housing Development: Increasing the availability of affordable housing is vital for maintaining the city's workforce and economic growth.</li><li>Infrastructure Improvements: Enhancing transportation—including the city’s historic trolley—and other infrastructure systems will support the region's growth.</li><li>Cultural and Tourism Appeal: San Francisco's unique culture, diversity and lifestyle continue to attract talent and investment.</li></ul>

Jim Wunderman is President and CEO of the Bay Area Council, a CEO-led public policy and advocacy organization formed in 1945 that works to shape the future of the Bay Area and maintain it as the most innovative, globally competitive, and sustainable region in the world. In the 1950s, the Council gained notoriety for creating a regional mass transit, fixed rail system that became BART. Since becoming CEO in 2004, Jim has dramatically expanded and deepened the Council’s reach and influence throughout the Bay Area, Silicon Valley, California, the nation and the world.  As the leading steward of the Bay Area, the Council has grown during Jim’s tenure to include more than 325 member companies across many industries. He has positioned the Council as a leading voice for business and the economy on a wide range of issues, including business climate, public safety, housing and homelessness, transportation, climate resilience and more. Appointed by Gov. Gavin Newsom, Jim also serves as Chair of the Water Emergency Transportation Authority (developer and operator of San Francisco Bay Ferry), which the Council played an instrumental role in creating. Jim is the Founder and serves as Chairman of the New California Coalition, an influential statewide movement leveraging the power of hundreds of business and civic organizations to advance commonsense solutions to key issues and improve the state’s overall business climate to ensure a healthy, growing and inclusive economy. Since 2008, Jim annually teaches a course on Executive Leadership at the UC Davis Graduate School of Management.

Jim Wunderman

President and CEO, Bay Area Council

As President of CBRE’s Advisory Services in the Bay Area, Joe Wallace leads over 600 professionals across six regional offices, in various fields of commercial real estate including brokerage, debt and structured finance, capital markets, property management and valuations.

With over 35 years of commercial real estate experience, Mr. Wallace has held leadership positions in a wide range of real estate services and investment enterprises.
Previously, he led CBRE’s Occupier Advisory and Transaction Services practice in the Washington-Baltimore region, where he focused on delivering exceptional outcomes to CBRE clients.


Joe Wallace

President, Advisory Services, Northern California CBRE

The Comeback: Opportunities abound in San Francisco

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