SAN JOSE, CA—More than 700 Colliers International clients and industry professionals attended Trends2015, Colliers' 16th annual commercial real estate forecast program, held Monday at the historic California Theatre in downtown San Jose. The program provided an outlook on Silicon Valley's commercial real estate market, whether or not we're approaching a bubble, and what to expect of the current economic and political landscape.

Colliers International reported that total gross absorption in Silicon Valley was up nearly 13% in 2014, to 24.5 million square feet. The Valley's total occupancy gain measured nearly 4 million square feet, the second most since 2006, but down from the 5.7 million square feet reported in 2014.

Jeff Fredericks, executive managing director with Colliers, was optimistic in his commercial real estate outlook for the Silicon Valley in 2015, especially in the office sector.