Silicon Valley office market adjusts to post-coronavirus economy

Silicon Valley office market adjusts to post-coronavirus economy

4 years ago
Anonymous $rxtAWepgzY

https://www.mercurynews.com/2020/10/14/silicon-valley-office-market-real-estate-post-coronavirus-economy-tech/

SAN JOSE — Big tech companies that filled large office buildings have helped stabilize the Silicon Valley office market during the coronavirus pandemic, but the ongoing economic upheaval has caused sublease space to swell, a new report shows.

A number of Silicon Valley office buildings were preleased by tech companies while they were being built, ensuring that the sites were full by the time construction was completed, according to a report for the third quarter from Colliers International, a commercial real estate firm. That has helped to lower the region’s officie vacancy rate.