San Jose - Silicon Valley office market reports

Q4 2022: Silicon Valley showed promised the latter half of 2022 as office visitor volumes, the week before lockdown versus the week of December 12th, 2022 was 61.7% returned despite economic headwinds, layoff announcements, and lackluster job postings. This figure is the highest percentage of office site visits throughout the Bay Area witnessed since the onset of the pandemic. 

61.7%

Office Visitor Volume

Silicon Valley office visitor volumes, the week before lockdown vs. the week of December 12th, 2022 was 61.7% returned despite economic headwinds, layoff announcements, and lackluster job postings.

915K

YTD Net Absorption

Leasing activity kept pace throughout 2022 with occupancy stabilizing due to a couple of large expansions in the San Jose market.

18.7%

Availability Rate

Available sublease rates began to level off in the latter half of 2022 as unoccupied space begins to transition back into the hands of landlords. 

$4.40 psf

Direct Asking Rate Full Service

Increases in availability and excess space over the past 18 months has begun to stabilize as landlords begin to negotiate with tenants and lower rents to maintain occupancies.

 

4.6 msf

Under Construction

A large percentage of the new construction on the horizon is already pre-leased or planned Google development.

$921 psf

Investment Volume

Despite the turmoil in the commercial real estate leasing market, both investors and tenants capitalized on opportunities in the latter half of 2022.
 
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Get in-depth office market reports and insights from commercial real estate experts in the Greater San Jose - Silicon Valley area. Avison Young advisors look at San Jose - Silicon Valley commercial real estate activities and the latest San Jose - Silicon Valley statistics to provide you expert market research on San Jose - Silicon Valley's office properties.

Explore different topics like the latest office market pricing trends and analysis of San Jose - Silicon Valley's current office real estate market conditions. Gain a better understanding of San Jose - Silicon Valley’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in San Jose - Silicon Valley's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in San Jose - Silicon Valley.

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