Silicon Valley’s Tech Presence Has Fueled Recovery

The Silicon Valley’s strong tech presence has helped to stabilize the market after the recovery. During the pandemic, the tech industry expanded, and that has helped to attract investment capital, according to a new report from Colliers. As a result, sales volumes increase 113.8% year-over-year to $10.8 billion.

In the last year, investors have favored long-term investments with stable, credit tenants and significant lease term. As a result of the strong sales activity, pricing has reached new records, a significant milestone considering the Silicon Valley is already a top-tier market. The median price per square foot for Silicon Valley office hit $554 per square foot, more than double the national average, and last year, Hunter Storm sold the Yahoo-leased portion of Coleman Highline to AGC Partners for $780 million or roughly $1,200 per square foot, breaking previous pricing records.