San Jose - Silicon Valley industrial real estate market reports
Q2 2024
-679k sf
Net absorption shows dips as industrial market softens
After an initial uptick in lease activity following the pandemic lockdowns, the San Francisco Peninsula industrial and flex space markets have seen a decline in demand.
+2.92%
Flex sublease availability increases with tenant consolidations
The San Francisco Peninsula industrial market is experiencing a rise in availability and vacancy rates, accompanied by an increase in sublease availability.
37.0%
Deals under 10,000 sf dominate industrial leasing
As of the beginning of 2024, the industrial transaction volume has noticeably slowed down due to higher capital costs. More than half of the deals transacted in 2024 were under 20,000 square feet, indicating that larger occupiers are hesitant to expand.
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