Q3 Silicon Valley Commercial Real Estate Outlook
Esquire Property Management Group
NOVEMBER 30, 2023
million square feet, surpassing the Q2 2009 record during the Global Financial Crisis of 2007-2008. Despite a 90 basis points increase in the overall vacancy rate to 12.5%, average asking rents remained surprisingly near historic highs at $5.37 The slight decrease in asking rents, down 0.9% pre-leased.
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