In the second quarter of 2025, the South Bay office vacancy rate decreased to 15.9%, an improvement over the previous 16.4%. This positive trend followed significant office leases that filled vacant spaces. In contrast, Oakland's downtown office market experienced a rise in vacancy to 29.1%, up from 28.2%, due to weak tenant activity and muted demand. San Francisco's office vacancy further deteriorated to 31.2%, compared to 30.6% in the first quarter, indicating sustained pressures in the market. Nearly one-third of San Francisco's office spaces remain unoccupied.
The South Bay office vacancy rate improved to 15.9% during the second quarter of 2025, down from 16.4% in the first quarter, due to notable leases.
Oakland's downtown office market saw a rise in vacancies, reaching 29.1% in the second quarter of 2025, an increase from 28.2% in the prior quarter.
San Francisco's office vacancy rate worsened to 31.2% in the second quarter of 2025, up from 30.6% in the first quarter, with nearly a third of spaces empty.
Meek tenant activity and limited leasing demand contributed to the downgrading conditions in Oakland, while San Francisco's situation reflects ongoing moderated market pressure.
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