Quarterly Report

Silicon Valley Commercial Space

Q2 2022

Silicon Valley’s commercial space indicators paint a complex picture through diverging trends in Q2. Leasing volume within the region showed a surprising uptick, slightly outpacing last year’s figures and running counter to increasing vacancy rates. The pandemic-period trend toward leasing of smaller spaces continued. Asking rents have plateaued despite outsized levels of inflation reported this year, indicating a reluctance for landlords to raise rents in order to remain competitive in the market.

Charts/tables featured in this report: