Quarterly Report

Silicon Valley Commercial Space

Q3 2022

Silicon Valley’s commercial space indicators exhibit signs of companies continuing to adjust to new expectations around remote and hybrid work culture. Despite increased vacancy rates over Q2, the total number of leases in 2022 already surpassed last year’s totals, indicating that the average company requires less space than before. Even with the backdrop of tech company layoffs and a looming recession, rents continued to hold steady through the third quarter.

Charts/tables featured in this report: