SAN JOSE—San Jose leads the Silicon Valley office market for the fifth consecutive quarter, according to the latest market report from Newmark Cornish & Carey, a unit of Newmark Knight Frank. The Silicon Valley office market showed a continued trend toward a more balanced market as rents remain flat so far in 2017 and availability increased, the report indicates.
Recent office moves are also demonstrating a San Jose migration as the US' 10th largest city is attracting more office users, including two blockbuster moves. One example is the well-under-construction 700 Santana Row, a 284,000-square-foot class-A spec office project opening late next year, being developed by Federal Realty Investment Trust.
“It's one of the largest new projects in the pipeline,” said Randy Gabrielson of Newmark Cornish & Carey, who represents the building, along with Todd Shaffer and Tracey Solari.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
