START: Reuben Torenberg, Senior Vice President, CBRE: "Q1 2026 SF Office Market Report"

START: Reuben Torenberg, Senior Vice President, CBRE: "Q1 2026 SF Office Market Report"

Author: Fondo June 23, 2026 Duration: 16:35

In 2022, San Francisco leased five million square feet of office space

The entire year

In Q1 2026 alone: more than four million

At the time of this recording (Apr 2026) tenant demand reached 7.5 million square feet

The highest ever recorded.

OpenAI has accumulated nearly a million square feet in Mission Bay

Coinbase, Nvidia, and the Warriors all landed at Mission Rock (It's effectively full - premium space there is almost impossible to get)

Reuben Torenberg has brokered SF startup office deals through every major cycle since 2016

The 3% vacancy boom and record rents

The 38% vacancy COVID collapse

And the AI-driven resurgence happening now

We're probably still early in this cycle

The AI wave showed you can do more with less

And that's changing how founders think about space

🎙️ Reuben Torenberg, Senior Vice President, CBRE on Fondo START

00:36 Why brokering compounds the longer you do it

01:08 SF's pre-COVID boom, then the jump to 38% vacancy

02:18 How AI restarted SF office demand

02:42 Where we are in the cycle, and why it isn't the top

03:25 The leasing numbers that signal a real shift

04:34 Why startups are leasing differently now

05:34 How distressed buildings changed hands at a discount

06:11 How landlords regained leverage

07:38 What landlords actually check before they'll sign you

09:48 Why plug-and-play subleases win with startups

12:18 Advice for founders hunting their first office

13:01 Treating the office as a recruiting tool, not a status symbol

learn more at cbre.com


Behind every startup's big idea is the less glamorous, but utterly essential, work of building a real business. The Startup Growth Podcast, from the team at Fondo, digs into that reality. Fondo itself is an all-in-one accounting platform designed for startups, handling everything from closing the books to filing taxes and even helping secure cash back from the IRS. This practical experience informs every conversation. You’ll hear founders and operators talk not just about vision, but about the tangible systems, financial decisions, and marketing pivots that actually fuel growth. Episodes move beyond theory to explore the operational choices that separate promising companies from sustainable ones. It’s a resource for entrepreneurs who understand that strategy is meaningless without execution, and that a healthy bottom line is the truest measure of progress. Tune in for honest discussions that bridge the gap between entrepreneurial ambition and the business fundamentals required to make it last.
Author: Language: English Episodes: 50

START
Podcast Episodes