South of Market (SOMA) is a trophy-tier Class A submarket of San Francisco with average asking rent around $92/sqft/yr.
The post-2010 tech trophy spine. · Tier: trophy · Avg rent: $92/sqft/yr
South of Market — anchored by Salesforce Tower and the Transbay district — is the city's deepest concentration of post-2010 trophy stock and the principal HQ market for large tech.
Large tech HQs, AI, professional services, banking back-office.
20–40,000 sqft floor plates available across newer Class A stock.
Embarcadero / Montgomery (BART), Transbay Transit Center.
Multi-modal transit with high commute capture from the city's professional catchment.
Salesforce Park, Yerba Buena, Moscone.
South of Market (SOMA) is one of 6 Class A submarkets we cover in San Francisco, classified as trophy tier with an average asking rent around $92/sqft/yr. Compared with the broader San Francisco Class A stock, South of Market (SOMA) typically attracts Large tech HQs, AI, professional services, banking back-office and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside South of Market (SOMA): Transbay, Financial District, Mission Bay & SoMa, Jackson Square. The full San Francisco submarket atlas is at /cities/san-francisco.
For an institutional Class A occupier evaluating South of Market (SOMA), the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to San Francisco Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.