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How the Silicon Valley Office Market Ebbs and Flows

Typically the first quarter can be on the slower side with activity picking up in the second and third quarters, which is expected this year with expectations that several large deals have already or are about to be signed.

San Jose The office and R&D sectors had a sluggish start to 2019, after a solid 2.85 million square feet of occupancy in 2018.

SAN JOSE—Certainly a key indicator for the commercial real estate sector is job growth. And while such growth has slowed compared to a few years ago due to the fact the market appears beyond typical full employment, the San Jose metro statistical area continues to add jobs.

“Year-over-year, the San Jose MSA added 24,200 non-farm positions, while unemployment has tumbled to a mere 2.5%, compared to the national figure of 3.8%,” says Julie Leiker, Cushman & Wakefield’s Silicon Valley market director.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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