Silicon Valley’s Office/R&D Sectors Report Significant Growth in Q3 combining for over 1.9 MSF Net Absorption

Office Market may be Headed for Record Year, while R&D Market Rebounds SAN JOSE, Calif., October 15, 2018 – Cushman & Wakefield’s newly released office and R&D market reports for the third quarter of 2018 showed strengthening occupancy growth, with both sectors combining for more than 1.9 million square feet (msf) of positive net absorption. The R&D market contributed over 1.3 msf of growth with the office market adding another nearly 600,000 sf in Q3. Under the strain of two quarters of lackluster performance, the R&D sector broke through in the third quarter with a surge in deal velocity, a stabilization in net absorption and increased rents. And in the office sector, after three standout quarters it seems apparent that 2018 will not only outperform 2017 but may rival the record-setting growth of 2015. Julie Leiker, Cushman & Wakefield’s Market Director for Silicon Valley, said, “Year-to-date office net absorption has [...]

By | 2018-10-15T16:33:52+00:00 October 15th, 2018|In the News|0 Comments