SAN JOSE — Office vacancies in the Bay Area have ballooned to all-time highs despite some huge rental deals, a sign that tech cutbacks still haunt the region’s wobbly office market, a report released Tuesday shows. The office availability rate soared to record levels at the end of 2023 in both Silicon Valley and San Francisco, according to a report released by Savills, a commercial real estate firm. The sluggish state of the tech industry in the Bay Area is deemed to be the driving force behind the sky-high availability levels for offices Savills reported. The office availability rate is a combination of vacant space plus space…
