1Nov 21, 2022
Texas Instruments just signed a lease for 210,000 square feet at Santa Clara’s Great American Commons, Exelixis signed for 100,000 at The Loop in Alameda’s Harbor Bay, and Convene signed for 65,000 square feet of office space at 100 Stockton St. in San Francisco.
2Nov 17, 2022
Credit for this statement goes to Jessica Pernicone, principal at JLL. “There is a certain amount of productivity you can get from being at home when you have heads-down deep work. However, if that’s not what your job requires all the time there are feelings of isolation and people start to feel disconnected from their…Read More→
3Nov 16, 2022
Colliers newest report on the future of work had some very interesting thoughts. “30-50% of knowledge management work is anticipated to be automated by 2030. This will result in less real estate and facilities and more reliance on machine learning and predictive analytics to support real estate functions.” …”The office will evolve to be…Read More→
4Nov 14, 2022
Barclays Capital, Morgan Chase, Deutsche Bank and possibly other major lenders are reportedly looking to sell office building loans in major cities like New York to reduce their exposure. Bisnow on November 11, 2022 said “Lenders are reportedly focused on unloading office loans in their portfolio because they have been hit hardest by the pandemic and…Read More→
5Nov 11, 2022
Sara Bloomberg in the SF Business Times Nov. 4, 2022 reported that according to Pitchfork, Stanford University and UC Berkeley are the top producers of startup founders om the world. Harvard and MIT were next at #3 and #4. This is reassuring as a future source of new companies requiring Bay Area office space!
6Nov 10, 2022
Joseph Gordon with Bisnow wrote on November 8, 2022 that according to a number of sources, new office leases showed 18% fewer deals as compared to Q3 2021, and 15% less than Q3 2019. The average size of the deal also went down 16% in 2022 as compared to 2019. Leases are also getting shorter…Read More→
7Nov 9, 2022
Bisnow October 27, 2022 reported “Dave Welner, chief financial officer of the company that owns Facebook, Instagram, WhatsApp and other platforms, said on its third-quarter earnings call Wednesday that Meta expects to lose roughly $2B from its cutback on office leases this year.”. Then today Meta said it was slashing 11,000 jobs. Lyft is trying…Read More→
8Nov 8, 2022
THEREGISTRY November 4, 2022, Cresa reported that Bay Area leasing activity to date remains 50.2 percent below 2019 levels during the same timeframe and in the last year, 3.6 million square feet of direct space has been added to landlords availability. There is demand for trophy office space in San Francisco, upper floors with…Read More→
9Nov 7, 2022
According to the latest Colliers U.S. Research Report, office vacancy went up in the third quarter 2022 with San Francisco and Seattle posting the largest increases and Dallas and Houston seeing their vacancy rate come down. San Francisco is now above 20% as compared with Manhattan which is at 11%. “Class A asking rates…Read More→