Silicon Valley - San Francisco Peninsula office market reports

Q3 2025

The Bay Area office market is showing early signs of stabilization in 2025, with leasing activity picking up and availability beginning to trend downward for the first time in a year. Construction has fallen to decade lows, limiting future supply and setting the stage for stronger absorption. At the same time, investment activity is gaining momentum, with $1.5 billion in transaction volume recorded year-to-date—driven by discounted pricing, renewed buyer confidence, and expectations of falling interest rates in the second half of the year.

819K sf

Construction Activity

Construction activity in the region has fallen to decade lows.

27.5%

SF Peninsula Availability

SF Peninsula sees a drop in availability for first time in a year.

$1.4B

Sales Volume

Transaction volume begin to recover after an extended lull.

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