In the second quarter of 2025, San Jose's office vacancy improved to 15.9%, down from 16.4% in the first quarter. This improvement follows significant office leases in the region. In contrast, Oakland's office market vacancy rate increased to 29.1%, up from 28.2%. The San Francisco office vacancy worsened as well, reaching 31.2%, indicating a deteriorating market with nearly a third of offices empty. Overall, leasing activity in these areas varied, with differing trends observed across the regions.
The vacancy rate for office buildings in the South Bay was 15.9% during the April-through-June second quarter of 2025, according to a new report released by Colliers.
The downtown Oakland office market posted a vacancy rate of 29.1% in the second quarter, a jump from the 28.2% rate for that region in the first quarter.
Nearly one-third of San Francisco's office spaces were empty in the April-through-June period, reflecting ongoing but moderated market pressure.
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