Local Development To Take Off in 2013

PALO ALTO, CA-As GlobeSt.com reported this morning, Studley’s Silicon Valley office market sustained its dynamic performance in the fourth quarter of 2012 as steady hiring and anticipated expansion among the region’s top employers and up-and-coming start-ups fueled demand for office space. And according to the report, as new construction comes to the market and supply begins to increase in late 2013 and through 2014, large tenants will be afforded more opportunities in Silicon Valley’s top-tier submarkets.

“An associated benefit is that as development takes off, municipalities have been leveraging these projects to fund much-needed public infrastructure improvements,” says George Fox, Studley senior vice president and branch manager of the firm’s Silicon Valley office.