Silicon Valley Sublease Space Falls to 1.4MM SQFT, Lowest Since 2016, as Class A Premium Widens to $2.10

The cheap seats in Silicon Valley's office market are nearly gone, and landlords of top-tier buildings are pressing the advantage, with sublease availability shrinking to 1.4 million square feet in the third quarter of 2026, its lowest level since 2016, and the rent premium for Class A space over Class B widening to $2.10 per square foot, according to Newmark.