This is a carousel. Use Next and Previous buttons to navigate 2 An office shortage in San Francisco's existing high-tech district is aiding the revival of the Mid-Market neighborhood, as young companies migrate to a new hub with fast-rising rents. Asking rates on Market Street between Fifth Street and Van Ness Avenue jumped 18 percent in the second quarter from a year earlier to an average of $46.48 a square foot, data from brokerage CBRE Group show. Internet firms have driven the gains. The once-bleak stretch of largely empty buildings has had $2.4 billion in development and property sales since 2011, including projects by Hudson Pacific Properties, AvalonBay Communities and Shorenstein Properties, according to CBRE. San Francisco's surging job growth and scant new-office supply sparked the renewal, along with a 4.4 percent vacancy rate in the South of Market neighborhood that constrained growth there. "We knew there was going to be overflow, but … [Read more...] about Office rents rise in once-blighted Mid-Market
