Top 5 Commercial Real Estate Insights

The ways people work have changed a lot over the past two years. As the uncertainty starts to clear and the future begins to take shape, we’re now seeing how much the pandemic has affected commercial real estate in San Francisco. Since 2020, unlike other commercial areas of San Francisco, spaces in the Presidio have remained in high demand with a 95% occupancy rate. Locating an office in a national park site rather than a dense, urban commercial district gives businesses of all kinds the unique advantage of offering their employees a distinctive incentive to returning to the office – including direct access to nature and recreation, iconic views, and a vibrant tenant community.  

As new and existing tenants in the Presidio have moved into new spaces or expanded their footprint in the park, one of the biggest changes we’ve seen is how businesses and employees are approaching in-person work environments. We’ve been paying close attention to attitudes and trends and we’ve compiled the top five return to work insights we’ve noticed in the park. 

1. Health, Safety, and Access to the Outdoors are Big Priorities 

On top of the desire for a great atmosphere and plenty of amenities in their work environment, employees are also asking for operable windows, more privacy, and access to outdoor gathering spaces. For many offices in denser commercial districts, outdoor spaces are limited to balconies and rooftops. Those of us in the Presidio consider ourselves incredibly fortunate that we have many single-tenant, freestanding buildings with operable windows that open onto views of the park’s beaches, forests, and hiking and biking trails that contribute to the well-being and health of employees and their clients alike. Being able to get outside and get some fresh air on a break and recharge in the beauty of the Presidio can make such a difference to an employee’s work life. Workers who have spent the past two years working from home and dealing with competing Zoom calls and constant interruptions can now consider their office an oasis.  

 2. Employees Want the Hybrid Model 

A common request among office workers as they dust off the Zoom-meeting residue and leave their remote set-ups is for a hybrid model where they come into work a few days a week and continue to work from home a few days. This gives people a new flexibility in their schedule and companies a new flexibility with their spaces. We’ve worked with our tenants to optimize the square footage needed for the size of their team and make layouts more fluid and relaxed. We’re seeing companies turn their spaces into open, social, multi-use areas and shift away from the more traditional set-up they had prior to the pandemic.  

3. Employers Need to Give Their Employees a Reason to Come to the Office 

Businesses need to offer employees a reason to come into the office. Some are offering more perks to entice people to return to work in person. In the Presidio, those perks go beyond the basic requests of catered lunches and well-stocked snacks. Having a workspace that people would pick over the comfort of their homes doesn’t have to be a challenge.  

The Presidio’s outdoor spaces offer the ability to take meetings outside, book lawn space for team building events, and escape into nature on 24 miles of trails after work. For us, amenities mean an on-site golf course, bowling alley, spa, multiple yoga studios, hotels, venues, and more. Not saying we’d turn down snacks. We just really appreciate having so many options.  

4. Employees Want to Work for Companies That Give Back 

One trend we saw gaining momentum before the pandemic that's now gaining even more traction, is employers and employees' desire to be aligned with a social or environmental mission. People want to support local businesses and invest in their own community.  

In the Presidio, we’ve experienced this trend firsthand not only because we share those values, but due to our unique funding model that reinvests money from commercial rents and businesses back into stewarding the park and keeping it free for everyone to enjoy. Our 2021 research showed that 83% of Bay Area commercial renters say they’re more likely to spend money in the Presidio because of this funding model. Being part of the Presidio connects your business and employees to a historic national park site and to the other tenants, residents, and visitors of this special place. 

5. There’s Never Been a Better Time to Work in the Presidio  

Even in a turbulent time when no one knew what to expect, commercial leases in the Presidio held firm, and now we’re adding even more unique office spaces to our portfolio. Eleven Eighty at Crissy Field, a creative office opportunity right on the beach, offers spaces from 6,000 rsf to 84,000 rsf in never before available buildings reimagined as contemporary office spaces in the park. Located along the Crissy Field shoreline, Eleven Eighty is surrounded by trails and has Golden Gate Bridge views not to mention easy access to Highway 101, the Golden Gate Bridge, and Muni options.  

This July, we’ll also open the newest amenity for Presidio-based businesses – Presidio Tunnel Tops. This new destination will provide 14 more acres of park with outdoor meeting spaces, food service, and stunning new views, and it's only a short walk away from Eleven Eighty.  

Spaces for teams of all sizes are available throughout the park. Learn more on our website and come join us in San Francisco’s national park site.