SPECIAL REPORT

Silicon Valley Commercial Space, Q2 2017

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Table A3. Large Commercial Space Completions, Silicon Valley, Q2 2017

Street Address City Owner/Developer Rentable Building Area (square feet) Percent Leased at Time of Delivery Class & Type of Space
10300 North Tantau Avenue Cupertino Apple 142.000 N/A (owner-user) Class A R&D
5079 Disk Drive San Jose Trammell Crow 233.520 0% Class A Industrial/Warehousing & Distribution
5093 Disk Drive San Jose Trammell Crow 167.700 0% Class A Industrial/Manufacturing
5087 Disk Drive San Jose Trammell Crow 162.540 0% Class A Industrial/Manufacturing
6212 Hellyer Avenue San Jose Dermody Properties 111.043 0% Class A Industrial/Warehousing & Distribution

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 office space 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. Industrial and R&D asking rents are quoted “triple net” (NNN), which is the monthly base rental rate in which common area maintenance fees, utility fees, and taxes/insurance fees are excluded. 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 Bay Area consumer price index for all urban consumers from the Bureau of Labor Statistics, 2017 estimate based on first half data.

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