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SILICON VALLEY, CA-“A number of large tenants are still in the market for space, but blocks of 100,000 square feet or more are in short supply.” So says Conor Flannery, EVP, Jones Lang LaSalle, who recently chatted with GlobeSt.com on the subject.
According to Flannery, this is especially true in places like Palo Alto, Mountain View and Sunnyvale. “New developments will offer some supply relief, but at a premium relative to overall market rents,” he says.
In terms of where tenants may have the best choices, Flannery points to North San Jose, which he says “offers the most choices for tenants, but because much of the space is second generation R&D product, many of the buildings need upgrades.”
To see a visual on the subject, check out the chart below, and check back later in the week for thoughts on the subject from CBRE.
And if you want to read more on home prices, take a look at another national story we just posted here.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
