Average Office Space Vacancy Rates by Proximity to Transit

Bay Area | Q4 2018

Near Transit 11.0%
Not Near Transit 17.8%

Data Source:

JLL

Analysis:

Silicon Valley Institute for Regional Studies

Data represents the end of each annual period unless otherwise noted. Commercial space includes Office, Industrial, and R&D space. The JLL inventory includes all development above 35,000 square feet, with the exception of Downtown Palo Alto and Downtown Mountain View, and all R&D development above 10,000 square feet. The data included in this report does not include owner/user developments. Silicon Valley data include San Mateo County, Santa Clara County, and the City of Fremont. Bay Area data include the entire nine-county region. The vacancy rate is the amount of unoccupied space, and is calculated by dividing the direct and sublease vacant space by the building base. The vacancy rate does not include occupied spaces presently being offered on the market for sale or lease. Near transit is defined as located within a ten-minute walk of a Caltrain, BART, or VTA station.

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