Thursday, August 2, 2007

San Jose Silicon Valley Commercial Real Estate Very Hot

Office vacancies are down significantly this year. Office rents are rising across the board, even in the larger spaces - last year the move was most significant in under 3,000 square foot spaces. Now larger users are demanding more new space.

Retail rents are very strong and have been for the last few years. Try locating a new restaurant in this Valley - it may be a difficult requirement to fulfill. Household incomes are very high and every retailer wants to be in the Valley.

Warehouse and industrial spaces are in very limited supply. I recently had a moving company looking to move themselves - finding a fenced yard near decent freeway access was a bear.

A lot of defunct industrial buildings are also going the way of mixed-use developments or shiny new townhouse complexes.

Where is the valley that I knew back in 1969 - when I was a tiny 1 year old?

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