Tech Activity Drives Silicon Valley in Q2-19 as Outlook Remains Upbeat – Region Remains Shining Star in U.S.
Cushman & Wakefield Releases New Local Q2 Office-R&D Market Reports SAN JOSE, Calif., July 24, 2019 – Cushman & Wakefield’s research department has released their second quarter 2019 market report for the Silicon Valley office and R&D markets. Below are some of the key findings from these reports plus local expert commentary: R&D MARKET Silicon Valley’s R&D vacancy rate decreased significantly to 9.1% during the second quarter of 2019, down from 9.8% in the first quarter. After a negative growth start to the year, net absorption surged with 1.2 msf in the second quarter, bringing mid-year 2019 growth to 917,000 sf. Silicon Valley R&D Trends (4-quarter trailing average) “Fueled by Q2, year-to-date R&D net absorption in 2019 already nearly doubles the full 2018 absorption of 491,000 sf,” said Julie Leiker, Cushman & Wakefield’s Research Director for Silicon Valley. “During the second quarter, North San Jose led the Valley with 575,000 [...]