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San Francisco Office Costs Jump 36.4%

Tech boom fuels jump; Jakarta sees second biggest increase in costs, at 28.7%.

By Dan Levy, Bloomberg | Updated on December 14, 2012

The cost of occupying office space in San Francisco soared the most of any market in the world as technology companies such as Salesforce.com and Mozilla Corp. fueled leasing in the city, according to broker CBRE Group Inc.

Occupancy costs — rents plus local taxes and service charges — surged 36.4 percent in downtown San Francisco to $90 a square foot in the year to Sept. 30, Los Angeles-based CBRE said in its semiannual survey of world office markets. That was the biggest jump among 133 areas globally.

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