"Santa Clara County, San Mateo County, and Fremont commercial property leases totaled 20.4 million square feet during the July-through-September third quarter, according to a report from the Silicon Valley Institute for Regional Studies that was released in partnership with JLL, a commercial real estate firm. The institute is the research arm of Joint Venture Silicon Valley."
"Completed commercial development projects in Silicon Valley totaled 5.61 million square feet in the third quarter for commercial spaces in Silicon Valley. That was up 5.5% from the 5.32 million square feet of completed development in the second quarter, according to the report. The report arrives on the heels of big leases in downtown Sunnyvale by Databricks and Crowdstrike that greatly bolstered the Silicon Valley market. These deals filled up hundreds of thousands of square feet of space."
"Vacancy rates for all commercial buildings rose throughout Silicon Valley, in a weak indicator for the market, according to the report. "While the region's office vacancy rate fell slightly from a record-high of 23% in the second quarter to 22.2% in the third quarter, it remained more than double its 2019 average and above peak levels of the dot-com bust," th"
Commercial leasing in Santa Clara, San Mateo and Fremont counties totaled 20.4 million square feet during July–September 2025, a 48.9% increase from 13.7 million square feet in April–June. Commercial spaces are defined as office, research, industrial and laboratory; retail is excluded. Completed commercial development totaled 5.61 million square feet in the third quarter, up 5.5% from 5.32 million in the second quarter. Large Sunnyvale leases by Databricks and Crowdstrike and steady leasing at a new Santana Row office building filled hundreds of thousands of square feet. Vacancy rates for all commercial buildings rose; office vacancy fell slightly to 22.2% from 23%.
Read at The Mercury News
Unable to calculate read time
Collection
[
|
...
]