san jose Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Cresa, JLL, Savills, Newmark, Colliers
Quarterly office market indicators for san jose, aggregated by CREhunt from Cresa, JLL, Savills, Newmark, Colliers. As of Q1 2026, average asking rent was $31.68/SF/yr and vacancy was 9.6%, per Cresa.
Projected current office pricing — san jose
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for san jose office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 Cresa asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~90% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Cresa | $31.68/SF/yr | 9.6% | — | — | Cresa |
| Q1 2026 JLL | $62.76/SF/yr | 21.8% | — | — | JLL |
| Q4 2025 Savills | — | — | 1.5M SF | — | Savills |
| Q4 2025 Newmark | $59.88/SF/yr | 16.6% | 2.4M SF | — | Newmark |
| Q3 2025 Newmark | $60.24/SF/yr | 16.8% | 481K SF | — | Newmark |
| Q2 2025 Newmark | $60.72/SF/yr | 18.5% | 1.0M SF | — | Newmark |
| Q4 2024 Newmark | $61.80/SF/yr | 19.6% | 107K SF | — | Newmark |
| Q3 2024 Newmark | $60.60/SF/yr | 20.1% | — | — | Newmark |
| Q2 2024 Newmark | $61.44/SF/yr | 19.4% | 23K SF | — | Newmark |
| Q1 2024 Newmark | $60.60/SF/yr | 19.3% | 623K SF | — | Newmark |
| Q4 2023 Newmark | $61.20/SF/yr | 18.8% | 676K SF | — | Newmark |
| Q2 2023 Newmark | $59.28/SF/yr | 17.8% | — | — | Newmark |
| Q1 2023 Newmark | $59.52/SF/yr | 16.6% | -893K SF | — | Newmark |
| Q4 2022 Newmark | $56.52/SF/yr | 16.4% | -970K SF | — | Newmark |
| Q3 2022 Newmark | $59.64/SF/yr | 15.1% | -1.2M SF | — | Newmark |
| Q2 2022 Newmark | $60.60/SF/yr | 14.8% | 69K SF | — | Newmark |
| Q4 2020 Colliers | $65.04/SF/yr | 6.9% | 1.4M SF | — | Colliers |
| Q1 2020 Newmark | $60.12/SF/yr | 19.4% | -677K SF | — | Newmark |
Frequently asked questions
- What is the average asking rent for office space in san jose?
- As of Q1 2026, the average asking rent for office space in san jose was $31.68/SF/yr, per Cresa.
- What is the office vacancy rate in san jose?
- The office vacancy rate in san jose was 9.6% as of Q1 2026 (Cresa).
- Where does CREhunt's san jose market data come from?
- This report aggregates quarterly office market data for san jose from Cresa, JLL, Savills, Newmark, Colliers.