Monday, November 23, 2020

Tag: Silicon Valley Begins to Crack Visibly

Silicon Valley Begins to Crack Visibly

by Wolf Richter, Wolf Street:
Chilling photos of for-lease signs lining the Great America Parkway

There are parts of Silicon Valley where commercial real estate is still hanging on, and there are parts where it has let go.

In Santa Clara, it has let go. Overall availability of office space in Santa Clara was nearly 19{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in the first quarter, according to Savills Studley, up from 14{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} a year ago. Only two other areas in Silicon Valley – Milpitas and North San Jose – show greater availability at respectively 23{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} and a harrowing 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.