Office-space vacancy in Silicon Valley decreased to 14.1 percent, down from 15.4 percent a year earlier, JLL research showed. That’s down from a recession-era peak of 26.4 percent in 2009. A vacancy rate of 10 percent or less is generally thought of as a landlord’s market.
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http://www.bizjournals.com/sanjose/news/2014/10/02/silicon-valley-office-vacancy-continues-to-tick.html?ana=e_du_pub&s=article_du&ed=2014-10-02&u=in6Es6uRY4ST7upqKvtOsEbiw+o&t=1412289348&page=all