Class A Office Space in Fremont, California
After stabilizing for much of the year, Palo Alto office rents are closing out the year on an up note, according to a new infographic from JLL.
The city, considered one of Silicon Valley’s most desirable office markets, has seen rents overall climb 49 percent since the start of 2010, JLL says. The number for less-swanky Class B product? That’s zoomed even more, up 114.4 percent, JLL says.
Read the full story in the Silicon Valley Business journal here.
Following Fremont City Council’s approval last week of the Warm Springs/South Fremont Community Plan and its environmental impact report, the city is now moving to kick-start an 850-acre planned development—dubbed “Innovation District”—surrounding the new, under-construction Warm Springs/South Fremont BART station.
The district, bounded by Interstates 880 and 680, Auto Mall Parkway and Mission Boulevard, currently houses a number of industrial and manufacturing companies, including Thermo Fisher, Boston Scientific, Delta Products, Western Digital and Tesla Motors Inc., which took over a 212-acre plant following the closure of New United Motor Manufacturing, Inc. (NUMMI) in 2010. That closure resulted in a $330,000 federal Economic Development Administration grant to the city that boosted the new district planning efforts as well as helped to find ways to reuse the plant and make up for the loss of at least 4,000 jobs. Architectural and design firm Perkins + Will was contracted to develop the community plan.
Read the full article on The Registry here.
For leasing information at Fremont Business Park (Class A office space near 880/Auto Mall), visit our home page.
“We are in an outright boom; the strongest place in America.” Those were the resounding words spoken by Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the Haas School of Business of the University of California, Berkeley, as he opened the center’s 19th annual conference, Monday, April 28, describing the state of the Bay Area real estate market.
The information presented at the event summarized the state of the national economy, with special emphasis on the regional figures, as well. But it was the assessment of the real estate industry that most of the attendees of the event wanted to hear. Unsurprisingly, the region checked in as healthy as one would expect.
Read the full story at The Registry.
The Carlyle Group is buying Lincoln Court, one of the few higher-end office complexes in Campbell, in a deal rumored to be roughly $41 million, or $335 per square foot. Principal Global Investors is the seller.
Campbell is a market with limited inventory, and brokers say the West Valley city is poised to pick up as tenants get pushed out of nearby markets such as Los Gatos, where Netflix has continued to gobble up space. In a sign of bullishness on the market, Carlyle is raising asking rents at the 124,000 square foot, courtyard-style building located at 2105 S. Bascom Ave. to $3.75 per foot, full service.
Read the full story in the Silicon Valley Business Journal.
As the commercial building boom accelerates within the South Bay’s Golden Triangle district, the burgeoning North San Jose tech district bounded by highways 101, 880 and 237, future workers will be able to take advantage of new residential options rising in the surrounding regions and linked by bus, light rail and, in the near future, BART.
Tech giants such as Samsung and others are expanding their operations within the Golden Triangle while other major players, such as Adobe, Acer, Oracle and Pinger, continue to lure technology workers within the downtown San Jose core. These workers, according to Jerry Nickelsburg, senior economist with the UCLA Anderson Forecast, are predominately Millennials (18-33) who prefer to live close to work in more densely populated areas rife with restaurants and shops.
Read the full story at The Registery, here.