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Tech Leases 3.9M SF In Silicon Valley

Downtown San Jose

Silicon Valley tech companies leased 3.9M SF during the past four quarters, ranking at the top of the heap for tech leases, according to a JLL report.

Silicon Valley is followed by Seattle-Bellevue at 2.5M SF, and San Francisco tech came in fifth with 1.7M SF. Total office supply in the Silicon Valley region is 69M SF with total vacancy at 12.1%.

Employment for Silicon Valley tech jobs increased 7.5% last year compared to 15 years ago. No big surprises here, especially with the Bay Area now hosting 746,000 tech jobs. JLL gave Silicon Valley and San Francisco top Tech Market Scores of 95.4 and 87.3, respectively, highlighting the resiliency of each of the markets for real estate investors.