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:
- Figure A1. Quarterly Commercial Space Completions, since 2000
- Figure A2. Annual Commercial Space Completions, since 2010
- Table A3. Large Commercial Space Completions, Q2 2022
- Figure A4. Quarterly Development In-Progress, since 2000
- Figure B1. Leased Space by Type, since 2016
- Figure B2. Leases by Type, since 2016
- Figure C1. Quarterly Vacancy Rates, since 2010
- Figure C2. Annual Vacancy Rates by Sector, since 2000
- Figure C3. Office Vacancy by Proximity to Transit, since 2017
- Figure D1. Quarterly Rents by Sector, since 2010
- Figure D2. Annual Average Rents by Sector, since 2000
- Figure D3. Office Rents by Proximity to Transit, since 2017
- Figure E1. In-Progress Office Space & Share Pre-Leased to Tech Firms, Bay Area, Q2 2022
- Figure E2. Owner vs. Tenant Occupancy, Silicon Valley, Q2 2022