SF's Union Square showing signs of recovery, though some challenges remain

""The nightmare is over. The nightmare is totally over," Taylor said, emphasizing the significant shift in activity within Union Square as vacant buildings are seeing increased interest."

""Every building that is vacant has something going on -- at a minimum, people touring. But a lot of them have multiple offers trading," Taylor noted, highlighting the renewed interest in the area."

"Taylor expects the area to fully rebound within about two years, particularly in the Powell Street corridor, which had a retail vacancy rate of 71% last year."

""They want to tour space. They want to understand what's changed in the market," Taylor explained, referring to the increased interest from corporations reassessing their presence in San Francisco."

Union Square, generating 40% of San Francisco's general fund tax base, is showing signs of recovery with a retail vacancy rate down to 15% from a peak of 22%. Mayor Daniel Lurie states that downtown is on the rise. Commercial real estate agent Julie Taylor notes significant activity in vacant buildings, with expectations for a full rebound in two years. Interest from corporations is increasing, coinciding with lower lease prices and shifts among major retailers in the area.

Read at ABC7 San Francisco