- Advertisement -spot_img
Saturday, March 25, 2023

Silicon Valley Tech Companies Lead Office Recovery: CBRE Report

SAN JOSE – Silicon Valley tech companies have contributed to the recovery of office property in the Bay Area and across the country, which indicates a recovery in commercial real estate from coronavirus-related illnesses, a new report said.

Office rental activity in both Silicon Valley and San Francisco skyrocketed during the first nine months of 2021 compared to the same period in 2020, and is growing much faster than office rentals nationwide, according to researchers at CBRE, a firm on commercial real estate.

Evidence of technical-led office rebuilding is contained in the CBRE’s annual Tech-30 report.

“Bay Area companies are ramping up their office leases both locally and nationally to accommodate the increase in recruitment,” said Colin Yasukochi, executive director of the CBRE Technical Research Center.

Elevated view and rooftop terrace of 700 Santana Row, a new 301,000 square foot office building in the Santana Row complex in San Jose. (Studio WRNS)

In Silicon Valley, defined as Santa Clara and San Mateo counties, office rental activity in the first nine months of 2021 soared 44% over the same period in 2020, according to a CBRE study.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news
- Advertisement -


Please enter your comment!
Please enter your name here