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Silicon Valley Still Struggling

SAN JOSE, CA-Silicon Valley is not showing signs of recovery from the dot-com crash, according to Colliers International's latest statistics, which reveal that the amount of available space in the valley has increased.

By Michelle Savage | Updated on March 06, 2003

SAN JOSE, CA-According to a recent report from Colliers International, the amount of office, research and development space available for lease in Silicon Valley increased by more than one million sf in January.

Rental rates for Silicon Valley high-tech commercial real estate fell almost 30% in 2002, according to recent statistics, and Collier’s January report shows that the trend is continuing this year.

According to Colliers, the total amount of available space in Silicon Valley, as of February 1, was more than 50 million sf. In 2002, there was 40 million sf available. In addition, the amount of available sublease space has increased by 2% to 19.1 million sf. The amount of vacant space for lease increased 4% to 30.8 million sf.

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