Just like nearly every other part of California, San Francisco is a pricey place to live with housing prices rivaling New York City and far exceeding Los Angeles. Doing business there is no different. Because of high real estate prices, few businesses could ever hope to buy property. That just makes commercial leasing even more lucrative for landlords and more costly than necessary for business tenants. Add to that the challenging economy – and you have a Fisherman’s Warf whale of a hard time trying to make ends meet, let alone turn a profit.
That being the case, just imagine what it is like for a new or growing business! It is so easy to outgrow space these days – even in a down economy. In fact, because businesses are more likely to rent as little space as possible – especially given the prices in San Francisco – it is easier than ever to do just that.