"During the July-through-September third quarter of 2025, the office vacancy level in the South Bay was the lowest of the three biggest Bay Area markets, according to reports prepared by commercial real estate firm Colliers. Downtown Oakland near Lake Merritt, November 2024. (Jose Carlos Fajardo/Bay Area News Group) San Francisco skyline as seen on Oct. 6, 2025. (Jane Tyska/Bay Area News Group)"
"In the third quarter, the South Bay had an office vacancy rate of 15.9%, the Colliers report determined. Equal to the second quarter rate, it was below the 17.2% rate during the third quarter of 2024. The Oakland-Berkeley-Alameda-Emerville-Richmond areas had a 21.4% office vacancy rate in the third quarter, which was higher than the 20.8% level in the second quarter and unchanged from the third quarter of 2024, according to the Colliers report."
"The South Bay is showing steady improvement, Colliers researchers Mike Pham, Mithila Chitale and Derek Daniels stated in the report. The Silicon Valley office market continued its upward trajectory in the third quarter of 2025, the researchers stated. In the South Bay, tenants have begun to scout for large chunks of office space to a greater degree than in prior quarters, according to Colliers. Office tenant requirements have increased 52.1% to 6.7 million square feet during the most recent 12 months, Colliers said"
South Bay (Santa Clara County and Fremont) recorded a 15.9% office vacancy rate in Q3 2025, unchanged from Q2 and down from 17.2% in Q3 2024. San Francisco's eastern business districts posted a 31.1% vacancy rate in Q3, slightly better than Q2 but worse than 2024. The Oakland-Berkeley-Alameda-Emerville-Richmond area had a 21.4% vacancy rate in Q3, up from Q2 and flat year-over-year. Major tech deals and rising tenant requirements are supporting demand in the South Bay. Office tenant requirements increased 52.1% to 6.7 million square feet over the past 12 months.
Read at www.mercurynews.com
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