During the third quarter, Spieker's funds from operations were $85.3, or $1.10 per share, a 26.4% year-to-year increase from third quarter 1999's FFO of $65.7 million, or $0.87 per share. During the third quarter, Spieker's rents jumped an average of 83.4% on 1.9 million sf of space renewed or re-leased.
Spieker's corporate strategy is to concentrate on specific West Coast markets, including Silicon Valley/San Francisco, Southern California, and selected parts of the Pacific Northwest. Some of Spieker's major Silicon Valley holdings include the 302,094-sf Central Park Plaza in San Jose, the 53,830-sf Foothill Research Center in Palo Alto, and the 146,066-sf North First Street Office Center in San Jose.
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