SPECIAL REPORT

Silicon Valley Commerical Space, Q1 2017

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Table A3. Large Office Space Completions, Silicon Valley, Q1 2017

Street Address City Owner/Developer Rentable Building Area (square feet) Percent Leased at Time of Delivery
237 Moffett Park Drive Sunnyvale Rockwood Capital 260.000 0%
3335 Scott Boulevard – Bldg D Santa Clara Menlo Equities 246.765 100%
2100 University Avenue Palo Alto Sobrato 214.052 100%
3025 Clearview Way San Mateo Deutsche/Embarcadero Capital 107.000 100%
80-85 Willow Road Menlo Park Deutsche AWM 85.000 0%
1450 Page Mill Road Palo Alto Stanford 77.199 100%
385 Sherman Avenue Palo Alto Minkoff Group 63.746 100%

Data Source:

JLL

Analysis:

JLL

Silicon Valley Institute for Regional Studies

Data represents the end of each annual period unless otherwise noted. Commercial space includes Office, Industrial, and R&D space. The JLL inventory includes all development above 35,000 square feet, with the exception of Downtown Palo Alto and Downtown Mountain View. Silicon Valley data includes San Mateo County, Santa Clara County, and the City of Fremont. Bay Area data includes all San Francisco Bay Area Submarkets, including Silicon Valley, North Bay, Mid-Peninsula, Oakland, and East Bay Suburbs. Average asking rents are “Full Service Gross” (FSG), which is the monthly rental rate and includes common area maintenance fees, utility fees, and taxes/insurance fees. The vacancy rate is the amount of unoccupied space, and is calculated by dividing the direct and sublease vacant space by the building base. The vacancy rate does not include occupied spaces presently being offered on the market for sale or lease. Average asking rents, where not noted as nominal, have been inflation-adjusted and are reported in 2017 dollars, using the February 2017 Bay Area consumer price index for all urban consumers from the Bureau of Labor Statistics. Near transit is defined as located within a 10 minute walk of a Caltrain, BART, or VTA station.

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