LOS ANGELES—Silicon Valley and New York Cityare obvious choices for any list of the top tech markets, but whatabout up-and-comers such as Oklahoma City and Nashville? They standout as top “momentum markets” in the sector, says CBREResearch, which cites talent clustering as a common factorin both large and small tech cities.

“For the past two years, the high-tech industryhas not only spurred the economy as a whole, but it has been thetop driver of commercial office activity, influencing rents andvacancy in major markets across the US,” says JohnFrager, executive managing director of CBRE's tech andmedia practice. Adds Colin Yasukochi, director ofresearch and analysis for CBRE, “Tech talent growth rates are thebest indicator of labor pool momentum and it's easily quantifiableto identify the markets where demand for tech workers hassurged,”

Although tech talent comprises just 3.4% of the total US laborpool with 4.4 million employees, the industry accounted for moremajor US office leasing activity than any sector over the pasttwo years. In 2013, tech's share of major leasing deals was 13.6%,in 2014, it climbed to 19%, according to CBRE.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.