Analysis: Silicon Valley's sales of commercial properties highest since 2015 | MCU Times

Analysis: Silicon Valley’s sales of commercial properties highest since 2015

SAN JOSE, California (CROWN) – A recent analysis reveals that sales of commercial real estate in Silicon Valley rose sharply in the last quarter.

The latest analysis from the Joint Venture Silicon Valley’s Institute for Regional Studies, shows increased investment activity between July and September, driving sales of commercial real estate up to a total of $ 6.3 billion – the highest since 2015.

Joint Ventures Quarterly Report “Silicon Valley Commercial Space” Q3 2021.

Overall, the report reveals that unemployment rates remain at “elevated levels”, slightly widening the gap between pre-pandemic levels.

Many projects due to be completed by the end of 2020 were delayed due to pandemic building materials and labor shortages.

As a result of the pandemic, business leasing activity in 2020 was 57% of the previous year’s total (measured in square meters).

Despite all this, Silicon Valley continues to have the lowest vacancies in a major market across the United States

Commercial leasing contracts last quarter have already overshadowed last year’s figures – according to the report, the number of leasing transactions is moving towards 2018 and 2019 leasing figures.

There were over 650 commercial lease transactions last quarter, compared to 480 in 2020 and 880 in 2019.

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