Quarterly Report

Silicon Valley Commercial Space

Q3 2023

Demand for Silicon Valley commercial space has been relatively weak, leading to a rapid rise in vacancy rates over the past year. Competition for tenants between landlords (and sublessors) has become even more fierce as a result. Additionally, WeWork’s announcement of restructuring leases has caused concern, though their exposure in Silicon Valley has been comparatively limited in comparison to other urban markets.

Charts/tables featured in this report: