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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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