The center of the market recovery

| April 15, 2011 | 2 Comments

Maybe the strength in the Palo Alto and Mtn View markets is an indicator of where broader conditions are heading. Maybe its setting unrealistic expectations. Either way, I find these two submarkets worthy of attention.

Palo Alto: Colliers newly released downtown Palo Alto snapshot can be found HERE. While lease rate increases may be slowing, rents do continue to climb in the face of incredibly low vacancies.

Mountain View: I had forecast that my Downtown Major Building Vacancy Index would take a drastic drop this quarter, but I underestimated just how much new absorption there would be. Still, activity for the broader Mtn View office market remains surprisingly flat.  I’ve noticed a couple of major buildings outside of the downtown core raising asking rates lately– I’m not convinced that the market justifies this quite yet.

My full report can be downloaded HERE.

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