SAN JOSE, Calif — The office vacancy rate in Silicon Valley improved during the first three months of 2022, a sign that the office sector is starting to recuperate from coronavirus-linked maladies, a new report indicates.
Average vacancy rates for office space improved to 10.6% during the January-through-March first quarter of 2022, reported Colliers, a commercial real estate firm.
“The vacancy rate decreased for the first time in two years, a positive sign for the market,” Colliers stated in the new report. “Following a two-year pandemic, Silicon Valley’s office market remains on solid ground.”
