Silicon Valley’s Office/R&D Markets Still Dominant in 2018 – Growth Driven by the Tech Sector

SAN JOSE, Calif., January 22, 2019 – Cushman & Wakefield’s year-end office and R&D market reports for Silicon Valley revealed a strong annual performance for both sectors overall in 2018. As one of the world’s most dominant and innovative tech markets, these two real estate sectors combined to hit 2.5 million square feet (msf) of positive net absorption, or occupancy growth, across the valley in 2018. After a soft first half plagued by deep occupancy losses, the R&D sector quickly shifted course in the second half with red hot growth. Meanwhile, with gains in all four quarters, the office market had one of its strongest occupancy showings on record. Julie Leiker, Cushman & Wakefield’s Market Director for Silicon Valley, said, “The office sector achieved 1.8 msf of occupancy growth in 2018, nearly doubling its growth totals for both 2017 (960,000 sf) and 2016 (973,000 sf). Putting this robust figure into [...]

By |2019-01-22T15:30:27-04:00January 22nd, 2019|In the News|0 Comments

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 |2018-10-15T16:33:52-04:00October 15th, 2018|In the News|0 Comments