Silicon Valley Office Leasing Reaches Five-Year Peak

Office leasing in Silicon Valley has reached a five-year high, signaling a potential office recovery in 2025. In the fourth quarter, leasing volume surpassed 2.4 million square feet, marking the first time it has exceeded 2 million square feet since Q2 of 2019. The surge in leasing, driven by significant tech deals, contributed to a total deal volume of over 5.5 million square feet for the year. This increase in activity sets the stage for a potentially robust office market in Silicon Valley this year. The second half of 2024 saw a leasing surge of over 4 million square feet, indicating a positive trend for the region’s real estate market.
This surge in leasing activity is a positive sign for Silicon Valley and may contribute to a strengthening office market in the coming year.