Coronavirus real estate: Tech keeps Silicon Valley office market resilient, San Francisco is struggling

Coronavirus real estate: Tech keeps Silicon Valley office market resilient, San Francisco is struggling

4 years ago
Anonymous $RGO3jP_V_c

https://www.siliconvalley.com/2020/10/26/covid-real-estate-tech-silicon-valley-office-google-apple-facebook/

SAN JOSE — Big tech companies have buoyed Silicon Valley’s prospects greatly enough that the region’s office market is deemed to be best-poised for growth and resilience despite coronavirus-linked uncertainties, according to a report CBRE released Monday.

In contrast to the optimistic outlook for Silicon Valley’s office sector, the office market in San Francisco, which is dominated by startups and venture-backed new tech companies, faces the “greatest risk” for increases in sublease space due to companies downsizing their office requirements, reported CBRE, a commercial real estate firm.