San Francisco Office Costs Jump 36.4%

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

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.

Jakarta, Beijing

Jakarta had the second-biggest cost increase after downtown San Francisco, with a 28.7 percent gain to $54 a square foot, according to the brokerage. The San Francisco peninsula -- which includes Palo Alto, Menlo Park and Redwood City -- ranked third, up 28.6 percent to $62 a square foot. It was followed by suburban Seattle, which includes Bellevue, with a 21.8 percent jump to $38 a square foot; and Beijing’s Finance Street, which climbed 19.7 percent to $180 a square foot.

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