Silicon Valley Office Snapshot Q3 2023

Continued large tech tenant dispositions leads to increased vacancy

October 11, 2023 5 Minute Read

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The Silicon Valley office market closed Q3 2023 with an overall vacancy rate of 18.9%, net absorption of negative 1.09 million sq. ft., and an overall average asking rate of $5.52 per sq. ft. on a monthly, full-service gross basis.