Tech sector growth pushes Silicon Valley leasing activity to post-pandemic high

In Q4 2024, the total availability rate in the Silicon Valley office market decreased by 160 basis points (bps) from the previous quarter to 25.9%. The leasing market in Silicon Valley experienced a notable boost, driven by the technology sector's strong presence and its continued focus on securing large leases. Leasing activity in Q4 2024 reached 2.4 million square feet (msf), marking the first time it has exceeded 2.0 msf since Q2 2019 and closing the year on a high note with total full-year deal volume of over 5.5 msf.

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