Presidio CRE Leasing Ends 2024 with 96% Occupancy Rate

 

San Francisco, CA (December 18, 2025) – The Presidio Trust is pleased to announce that it is ending the calendar year with a 96% occupancy rate for its commercial space, which is 30% higher than commercial occupancy in downtown San Francisco. This success reflects that a broad range of organizations is attracted to the national park site’s Golden Gate location and beautiful open spaces, as well as the Presidio’s abundant transportation options, restaurants, hotels, and amenities.

In 2024, the Trust completed 73 leases, including new leases and renewals, and it signed its largest leasing deals by square foot in the past ten years. The newly rehabilitated seven-building waterfront complex at Eleven Eighty Crissy Field (84k SF) enabled the organization to secure larger leases, despite the challenging market. City Ventures (5k SF) moved into their office, and Pet Food Express is set to open a flagship retail store (11k SF) in spring 2025. A space of 33k SF was leased to an AI company, and a 22k SF space was secured by another startup office tenant. The complex is fully electric, sporting the sustainable energy systems of the future.

Similar space in the nearby Gorgas Railway Complex in the northeastern Presidio near Cow Hollow is also fully leased to business, recreation, and wellness tenants (76k SF). The Presidio Trust’s total commercial portfolio is 100 buildings with 2.4M SF, and 180 tenants.

The Presidio of San Francisco is a national park site with a unique funding model – it earns the income to fund annual park operations from its real estate and hospitality operations. “Tenants tell us they don’t just love working in a park, but they and their customers also feel good knowing that revenue from their leases goes directly back into supporting park operations, keeping the park free and open for all to enjoy,” said Presidio Trust Chief Business Officer Rich Rusnack.

Renewed and Expanded Leases

The Presidio Trust enjoyed a high renewal rate. Of the 40 renewals, six of those leases are over 10k each.  Key leases are:

• Hamilton Zanze (11K SF)
• Thuma (expansion) (14K SF)
• Wallwisher (10K SF)
• VMG Partners (expansion) (14K SF)
• World Economic Forum (27K SF)
• Edge & Node (10K SF)

Rare, Last-Chance Opportunities on the Main Post

One of the most desirable office spaces in the Presidio is still to come online. Building 102 Montgomery, an iconic red brick building in the heart of the park next to the seven-acre Main Post Lawn, is undergoing renovation and will be move-in ready in spring of 2025. Its 43k SF space and is an ideal headquarters for an organization looking to locate in the Presidio. The building is now available for pre-leasing.

Building 102 Montgomery is within walking distance to Presidio Tunnel Tops and its Outpost Meadow picnic area extension, opening in 2025; two Presidio Lodging hotels; Il Parco cafe; the Mess Hall food hall (opening in 2026), and the Presidio Pop Up food trucks. Other amenities like bowling, golf, theatre, and Dalida and Colibri restaurants are located nearby.

Two other historic Main Post buildings are also undergoing rehabilitation. Building 2 on Funston Avenue will open as the expanded Adda Clevenger School (16k SF) in 2026 and Building 40 is available for pre-lease as small private office suites (9k SF total; 200-800 SF each).

View all leasing opportunities in the Presidio.

About the Presidio + Presidio Trust  

The Presidio is one of America’s most visited national park sites, located within the Golden Gate National Recreation Area. Spanning 1,500 acres next to San Francisco’s Golden Gate Bridge, the Presidio is among the most biologically diverse parks in America. Historically a home to native peoples and a military post under three flags, its facilities have been reinvented as museums, restaurants, hotels, homes, and offices. The Presidio Trust is the federal agency that stewards the Presidio, in partnership with the National Park Service and with support from the Golden Gate National Parks Conservancy. The Trust sustains the Presidio by leasing homes and workplaces and offering visitor amenities. Learn more at presidio.gov.