Search
 

Larger Commercial Spaces Remain Unsold

SAN JOSE-Smaller leases are being snapped up much faster than larger ones in Silicon Valley. It's starting to look like some of the area's major office campuses may stay on the market a long time.

By Michelle Savage | Updated on January 07, 2002

SAN JOSE-Large amounts of unused commercial real estate property are further bloating the Silicon Valley sublease market on a daily basis, as smaller companies continue to go under and larger ones continue to downsize.

Currently, some of the larger properties on the market include 3Com’s 875,000-sf office campus in Santa Clara; 865,000-sf of Cisco System’s space in Milpitas and Santa Clara; Sony’s 465,000-sf of space in San Jose; and Sun Microsystems’ 430,000-sf campus in Cupertino.

While the market is not looking good for large properties, some smaller deals have been negotiated in the area recently. 4D Matrix has leased approximately 13,500-sf of space from landlord, Rudolph Alfinito, at 1060 Terra Bella Ave. in Mountain View, in a deal valued at about $1.4 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.