Empty offices haunt the downtown districts of the Bay Area’s three largest cities.
SAN JOSE — Empty offices haunt the downtown districts of the Bay Area’s three largest cities, a new report shows, an indicator that companies and workers still shun the cores of this region’s urban centers.
The vacancy rates in the downtown districts of these three major cities set all-time highs, or equaled record levels, during the second quarter, the CBRE report disclosed.Here are some of the details for the second-quarter office vacancy levels in the urban cores of the three cities: Widespread job cuts by tech companies and a reduction in the tech industry’s appetite for employment hubs have helped keep office buildings empty throughout the Bay Area.
While the office vacancy rate in downtown San Jose was 31.5% in the second quarter, office vacancies totaled 19.5% in Silicon Valley overall.
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