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Office Highlights

United States | Silicon Valley, CA

Report | Silicon Valley Office Highlights - Q1 2011

Summary

Strong demand for Class A space, particularly by technology firms, is resulting in landlords aggressively driving up rents. Although the economy remains soft, technology growth could drive increased hiring through the remainder of the year, leading to more sustained economic growth.
Several large leases were signed during the quarter, mostly by technology firms. Google and Hewlett-Packard are targeting additional space in the Valley, both seeking at least 200,000 square feet of space. Investor interest has perked up in recent months as well. Although no notable projects are currently underway, tightening market conditions could prompt new construction by year-end.

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