Once-coveted offices in SF's Union Square vacant as COVID-19 crisis forces businesses to close

SAN FRANCISCO (KGO) -- The COVID-19 pandemic could mean an uncertain bumpy ride for the commercial real estate market in the Bay Area. With so many of us working from home, the future of office space is uncertain.

Much of San Francisco's Union Square remains a plywood ghost town.

LIFE AFTER COVID-19: Here's what restaurants, gyms will look like

Sly Benson sees it every day.

"I hate to see when people are not working, I feel guilty when I'm working," said Benson.

ABC7 News was at Battery and Market streets with commercial with real estate broker Louis Cornejo. He showed us several prime retail storefronts available for lease, including the former Specialties Bakery restaurant, which recently closed its doors.

"You'll never see vacancies at this intersection, it tells you a lot about what's happening," said Cornejo from Urban Group Real Estate.

RELATED: Macy's reopening: New rules customers, employees will have to follow

The effects of the coronavirus could be long lasting, as restaurants close, and retailers file for bankruptcy, and companies that occupy retail space re-think their entire work spaces.

Bay Area tech companies like Facebook, Twitter and Square have told its employees they can keep working from home indefinitely.

The commercial real estate vacancy rate in San Francisco is low, 5.3 percent, but is expected to surge over the next several months.

"We're starting to see signs of life," said Karin Flood, landlord and businesswoman.

She says some of the business and retail that rent space from her like Urban Outfitters have plans to return.

RELATED: Here's how curbside pickup went at Bay Area mall, chain stores

"Short term a little slow, long term it will pick up and Union Square will be vibrant again," said Flood.

Cornejo says many businesses may actually need extra office space to allow for social distancing.

"Instead of the top floor- the ground floor, it's easier to get to," said Cornejo.

Many are optimistic the commercial real estate market will return, how long it will take is unknown.

If you have a question or comment about the coronavirus pandemic, submit yours via the form below or here.

Get the latest news, information and videos about the novel coronavirus pandemic here

RELATED STORIES & VIDEOS:

• COVID-19 Help: Comprehensive list of resources, information
• INTERACTIVE TIMELINE: How close was CA to becoming a NY-level crisis?
• Live updates about coronavirus outbreak in US, around the world
• What will it take to get a COVID-19 vaccine and how will it be made?
• How California's COVID-19 cases stack up against other hot spot states
• Everything you need to know about the Bay Area's shelter-in-place order
• Coronavirus Timeline: Tracking major moments of COVID-19 pandemic in San Francisco Bay Area/
• List: Where can I get tested for COVID-19 in the Bay Area?
• COVID-19 Diaries: Personal stories of Bay Area residents during novel coronavirus pandemic
• Coronavirus Doctor's Note: Dr. Alok Patel gives his insight into COVID-19 pandemic
• What does COVID-19 do to your body and why does it spread so easily?
• Stimulus calculator: How much money should you expect from coronavirus relief bill
• WATCH: 'Race & Coronavirus: A Bay Area Conversation' virtual town hall about COVID-19 impact on Asian American community
• WATCH: 'Race & Coronavirus: A Bay Area Conversation' virtual town hall about COVID-19 impact on African American community
• WATCH: 'Race & Coronavirus: A Bay Area Conversation' virtual town hall about COVID-19 impact on Latino community
• What Bay Area tenants need to know about rent payments, eviction amid COVID-19 outbreak
• Here's how shelter in place, stay at home orders can slow spread of COVID-19
• Symptoms, prevention, and how to prepare for a COVID-19 outbreak in the US
• List of stores, companies closing due to coronavirus pandemic
• Canceled late fees, free services available amid COVID-19 crisis
• Here's how you can help during COVID-19 pandemic
• How to maintain learning during school closures
• No masks but here are 100+ products that may help protect you against novel coronavirus germs
• Here's a look at some of history's worst pandemics that have killed millions