Silicon Valley Research and Forecast Report Q2-12

7/31/2019 Silicon Valley Research and Forecast Report Q2-12

http://slidepdf.com/reader/full/silicon-valley-research-and-forecast-report-q2-12 1/8

RESEARCH & FORECAST REPORTSILICON VALLEY

www.colliers.com/sanjose

The Longest RecoveryNAVIGATING THROUGH THE ROUGH ECONOMY

Fm an emplyment tandpnt, th the lnget ecnmc cycle m ecen t ecve

nce the end Wld Wa II, accdng t Mdy’ Analytc ecnmc data. Lkng htcal

at pevu ecen and ecvey cycle, the aveage cycle lated mnth m peaemplyment pe-ecen t the ame level emplyment pt-ecen. The cuent cyc

began n Decembe , eached t nad n the ecnd hal , and nw u and a ha

yea nce t begnnng, the cunty ha tll nly ecveed hal the jb t lt. Gven the l

pace th ecvey, the new egadng the ecnmy und lke a bken ecd beng playe

ve and ve agan, makng peple wnde anythng ha changed. Althugh the Slcn Valley

ang bette than the cunty a a whle, thee tll a lng clmb that aught wth challenge

t get back t whee we began.

In the Slcn Valley, leang and ue ale actvty dpped lghtly n the ecnd quate

geneatng . mlln quae eet g abptn, a deceae .% cmpaed t the .

mlln quae eet actvty epted n Q . The declne may ae me eyebw, but whe

cmpaed t the htcal ten yea g abptn aveage . mlln quae eet pe quate

the declne wthn a nmal vaance. Althugh we wuld lke t ee tnge actvty veathee eem t be lttle ean cncen becaue the maket ha natually ebbed and we

dung th lwe ecnmc ecvey cycle.

Thee cntnue t be ptmm n the Slcn Valley a the weghted akng ent all u

pduct type have nceaed by almt % nce the begnnng the yea. Gven the natue

th lw ecvey, pat the deceae n actvty dung the ecnd quate can be attbuted t

the landld puhng up ent t ee what the maket wll bea whle the tenant mute up th

cndence t llw.

Althugh demand lwed dwn dung the quate, Slcn Valley’ net abptn cmmec

pace wa me but than expected ganeng a zable ccupancy gan. In Q , ne

abptn wa ptve . mlln quae eet; the thd hghet ccupancy gan nce the

quate . Al ntewthy the act that thee ut the u cmmecal eal etat

pduct type that Clle tack had ccupancy gan the quate, the exceptn beng th

ce ect whch pted an ccupancy l.

Avalable pace cntnue t declne, deceang m . mlln quae eet at the end Q

. mlln quae eet n Q. Althugh the change n avalable pace lackng n magntude,

cntnue t mve n the ght dectn.

Althugh thee ae cncen, thee a ean the Slcn Valley t hpe. In Decembe

when tuml n the ecnmy t began, the Valley’ unemplyment ate td at .%. Snc

eachng t hgh watemak .% n Januay , Slcn Valley’ unemplyment a

clawed t way back t .%. A the Valley tek thugh the ecvey, the pace ha been lw

than expected. The Valley halway back but thee’ anthe hal t g.

Q2 2012 | SILICON VALLEY

Q Q

Availability Rate 13.60% 13.45%

Gross Absorption 5,987,278 SF 5,397,536 SF

Net Absorption-293,292 SF 1,457,405 SF

MARKET INDICATORS

SILICON VALLEY AVAILABILITY

SILICON VALLEY GROSS ABSORPTION

.

.

.

.

.

.

.

.

.

.

.

.

.

0.00%

3.00%

6.00%

9.00%

12.00%

15.00%

18.00%

Vacancy Rate Availability Rate

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 1

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0

- - - - - - - -

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

S q u a r e F e e t i n M i l l i o n s

3

4

5

1

2

0

R&D Oce Industr ial Warehouse

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 2

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0

- - - - - - - -

.

- - - - - - - -

.

- - - - - - - -

.

- - - - - - - -

.



Slcn Valley’ R&D ect pted mdet

eult the ecnd quate . Ate

ptng an extemely tng . mlln quae

eet g abptn n Q, the R&D ect

nhed Q wth a epectable . mlln

quae eet demand—jut a tad hy the

. mlln quae eet pe quate, ten-yea

aveage. Yea-t-date, R&D demand unnng

at a .-mlln-quae-t clp and wthn

tkng dtance eachng Clle’ ecated

. mlln quae eet .

Even thugh R&D actvty tk a dp dung the

quate, the ate pevuly ccuped

“llve pace” cmng t maket deceaed

a well. The net eult the lwe w

pace cmng t maket and aveage R&D

demand wa a Q ccupancy gan ,

quae eet the ect; a .% nceae n

net abptn m the t quate’

,-quae-t ccupancy gan. Th

the thd taght quate ptve net

abptn the R&D ect, whch a

pmng tend. The R&D avalablty

deceaed t .% at the end Q m

at the end Q. The deceae mak e

taght quate declne n avalablty

the peak ate .% n Q .

The ve laget R&D ubmaket accunted

ve % the leang and ue-ale actv

n Q, wth ttal g abptn

mlln quae eet between San J

Sunnyvale, Santa Claa, Femnt, and Munt

Vew. Meve, u the ve ma

ubmaket egteed ptve net abpt

the quate; the exceptn beng Sunnyv

whch expeenced an ccupancy l n Q

Slcn Valley’ laget R&D ubmaket, S

Je, pted g abptn ,

quae eet n Q, .% le than the ,

quae eet ecded n Q. Tanactncluded X gnng a ,-quae-

leae n O’Nel Dve and Skyea ublea

, quae eet n Autmatn Dve. Al

R&D net abptn n San Je wa ptv

the tune , quae eet, t th

cnecutve quate ptve net abpt

The Santa Claa ubmaket beneted

InBlx takng , quae eet

Cnad Dve and ganeed a gan n R

ccupancy , quae eet Q. T

Q ccupancy gan wa enugh t fet

,-quae-t R&D ccupancy l nand put Santa Claa n the black the ye

R&D g abptn Santa Claa w

, quae eet the quate.

Femnt gt nt the mx wth a Q R&D g

abptn ttal , quae eet,

hghet amunt R&D actvty Femnt

een nce Q . R&D net abptn

This is the third straight quarter o

positive net absorption or the R&D

sector, which is a promising trend. The

R&D availability rate decreased to 14.1%

at the end o Q2 rom 14.4% at the end o

Q1. The decrease marks eight straight

quarters o decline in availability rom

the peak rate o 20.6% in Q2 2010.

R&D

R&D LEASING & SALES ACTIVITY

SELECTED COLLIERS INTERNATIONAL TRANSACTIONS - Q2 2012

PROPERTY ADDRESS SQUARE FEET LANDLORD/SELLER TENANT/BUYER TYPE

3111 Cnad Dve, Santa Claa 126,594 Bxby Land Cmpany InBlx Leae

3055 Ochad Dve, San Je 111,285 JER/Lane, LLC TMG Patne Invetment Sale

2125 O'Nel Dve, San Je 104,657 Cannae Patne 8x8 Inc. Leae

6580 Va Del O, San Je 81,158 Suth Bay Develpment Cmpany Ken & Jm Tagget Invetment Sale

573-585 Maude Cut, Sunnyvale 55,288 The Ivne Cmpany LtePnt Cpatn Renewal

82 Pnee Way, Muntan Vew 34,985 Tuan Tech Cente, LLC Blmeach, Inc Leae

R&D AVAILABILITY & RENT TRENDS

$0.00

$0.50

$1.00

$1.50

$2.00

5.00%

10.00%

15.00%

20.00%

25.00%

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 1

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0

Vacancy Rate Availability RateAvg. Starting Rent

P. | COLLIERS INTERNATIONAL

RESEARCH & FORECAST REPORT | Q2 2012 | SILICON VALLEY



Femnt ubmaket wa a ptve

, quae eet the quate.

In the ecnd quate, weghted

aveage R&D tatng ent dpped

back t . pe quae t NNN,

well f the Q anmaly . pe

quae t. Takng the t hal

a a whle, veall R&D

tatng ent ae . pe quae

t NNN, ght n taget t ht

Clle’ ecated weghted

aveage tat ate . NNN at

yea-end.

OFFICEAte ve cnecutve quate ld

ccupancy gan, the Slcn Valley ceect wa unable t keep up the pace and

egteed t t l n ccupancy nce

. The ccupancy l the quate

ttaled a mdet , quae eet the

ce maket. Gven the lng dawn-ut natue

the ecvey, a ew bump n the ad ae t

be expected dung th lw ecvey cycle.

Oce actvty dpped .% m the pevu

quate and geneated . mlln quae eet

g abptn n Q, cmpaed t the .

mlln quae eet geneated n the pevu

quate. Althugh the dp n actvty may eemlke caue cncen, p t , the ve-

yea aveage g abptn .

mlln quae eet pe qua te, nt much me

than what wa pduced n th quate.

Avalable pace nceaed n Slcn Valley’

ce ect dung Q the t tme nce

Q . Ttal ce avalablty gew t .

mlln quae eet dung the quate, tanlatng

t a .% avalablty ate. Beynd the negatve

net abptn that cntbuted t the nceae

n avalable pace, the Slcn Va

aw the delvey tw new

buldng ttalng , qu

eet, whch nceaed the buld

bae and added t the hg

avalablty ate.

It wa a mxed bag the

maj ce maket w

nndecpt numbe ac

bad. On a g abpt

ba, tw maket ncea

actvty cmpaed t Q, t

maket deceaed actv

cmpaed t Q, and ne ma

tayed n pa. On a net abpt

ba, thee maket had a l

ccupancy dung the quate a

tw maket had a gan n ccupancy du

the quate.

San Je, the Valley’ laget ce ma

ecded an ccupancy l , qu

eet paed wth a mddlng g abpt

ttal , quae eet. Santa Cla

ce maket pted an ccupancy gan

, quae eet n Q cmbned wth

mdet , quae eet g

abptn. Sunnyvale netted the lag

ccupancy l all the ubmaket du

the quate, lggng , quae eet

negatve net abptn. Sunnyvale’ g

abptn wa a nmnal , quae the qua te.

The laget deal the quate wa Lnked

,-quae-t leae n Mathlda Aven

n Sunnyvale. The next laget dect ce d

wa Chegg gnng a leae , qu

eet n Feedm Ccle n Santa Claa. T

emande ce actvty ecded n

Ofce activity dropped 11.1% rom the

previous quarter and generated 1.35 millionsquare eet o gross absorption in Q2,

compared to the 1.52 million square eet

generated in the previous quarter.

OFFICE AVAILABILITY & RENT TRENDS

$0.00

$1.00

$2.00

$3.00

$4.00

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 1

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0


OFFICE LEASING & SALES ACTIVITY



3990 Feedm Ccle, Santa Claa 45,000 RREEF Cheeg, Inc. Leae

800 Cnca Dve, San Mate 43,925 Cnca Acqutn (JP Mgan) Capcm USA, Inc Renewal

333 W San Cal Steet, San Je 28,618 Legacy Patne PDF Slutn Renewal

4000 E 3d Avenue, Fte Cty 24,375 Thman Speye Hme Dept USA Inc Leae

333 W San Cal Steet, San Je 19,670 PDF Slutn Baynte, Inc. Subleae

2520 Mn Cllege Blvd, Santa Claa 14,203 RREEF Tppan Phtmak, Inc Leae

P. 3 | COLLIERS INTERNATIONAL



ecnd quate wa made up deal le than

, quae eet.

Weghted aveage tatng ent ce deal

n the Slcn Valley deceaed .% n Q t

. pe quae t ull evce, cmpaed t

the pevu quate’ mak . pe

quae t ull evce. Much the deceae

n tatng ent can be attbuted t tw act

beved n the quate: the lack any lage

Cla A ce deal and ewe deal n the

hgh-ent Pennula maket. The death

deal een n the quate culd be due t any

cmbnatn umme dldum, the

culmnatn pent-up deal m Cla A

cpate ue, and me ent etance a

akng ate the emanng hgh-end

pject cntnue t a.

INDUSTRIALIndutal actvty ebunded n Q a g

abptn meaued , quae eet, a

.% nceae m the , quae eet

pted n Q and jut hy the ten-yea

quately aveage , quae eet. Apat

m a lacklute Q, the ndutal ect ha

pduced cntent demand me than

, quae eet pe quate ve the pat

tw yea. At that pace ve the ecnd hal

the yea, ndutal deal w wll nh ght at

Clle’ ecated . mlln quae eet annual g abptn.

Bede tng actvty level, the Slcn Valley

ndutal ect al deeve attentn

ganeng t laget ccupancy gan n ve tw

yea and the ecnd laget ccupancy gan n

ve ve yea. Net abptn wa ptve

, quae eet n Q ate ptng negatve

net abptn , quae eet n Q. Whle

the negatve net abptn n Q mtly

attbutable t ne me ue dumpng pace

(Slynda), the ccupancy gan pted by the

ndutal ect n Q ntewthy beng

pead amngt many maket and ue.

Avalable ndutal pace deceaed n the

ecnd quate t . mlln quae eet m

. mlln quae eet at the end Q. Lkewe,

the ndutal avalablty ate deceaed m

.% n the pevu quate t .% at the end

Q.

Demntatng the tength the ect and the

md-yea pnt, u the ve maj ndutal

ubmaket pted ccupancy gan dung the

quate—the exceptn beng Muntan Vew,

whch aleady ha a mncule .% avalablty

ate. San Je, Slcn Valley’ laget ndutal

maket, cntnued t eman ld, ecdng a

Besides strong ac tivity levels, the Silic

Valley industrial sector also deserves

attention or garnering its largest

occupancy gain in over two years and

the second largest occupancy gain in

over ive years. Net absorption was

positive 400,958 square eet in Q2 at

posting nega tive net absorption o 926,123 square eet in Q1.

INDUSTRIAL AVAILABILITY & RENT TRENDS

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 1

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0


INDUSTRIAL LEASING & SALES ACTIVITY



975 Mabuy Rad, San Je 27,770 Mak Allen Tut Legacy Santatn Leae

2305 Paagn Dve, San Je 15,250 Rchte Tut Amecan Redental Sevce Leae

1245 Lauelwd Rad, Santa Claa 11,600 Bag Cavaln Mblty Wk CA Leae

1381 N 10th Steet, San Je 10,000 Deba Sheltad AG Applance Leae

1233 N 5th Steet, San Je 9,510 1233 NFS, LLC U.S. A Cndtnng Leae

2070 Zanke Rad, San Je 7,840 Plg Unde The Nle Leae


RESEARCH & FORECAST REPORT | Q2 2012 | SILICON VALL



,-quae-t ccupancy gan

the quate n the heel ,

quae eet ptve net abptn

n Q. Demand n San Je emaned

tng a ndutal g abptn

emaned abve the , quae

t mak the ecnd taght

quate, tallyng , quae eet

Q.

Santa Claa and Femnt al

egteed tng ecnd quate,

ptng bth ld ndutal demand

and ptve net abptn. F the

quate, Santa Claa ecded

, quae eet g

abptn, up m , quae

eet n Q. The tng demand

eulted n a healthy ndutal

ccupancy gan , quae eet SantaClaa—the laget ccupancy gan that cty

nce Q . Lkewe Femnt pted

, quae eet g abptn n Q, a

x-ld nceae m the p quate that

cty. Alng wth the ld demand, the ccupancy

gan Femnt’ ndutal ubmaket weghed

n at , quae eet.

Ntable ndutal deal the quate nclude

Quanta Cmpute’ ,-quae-t leae

n Bcell Rad n Femnt, Redwd Cty

Electc ccupyng , quae eet n Walh

Avenue n Santa Claa, and Legacy Santatngnng , quae eet n San Je n

Mabuy Rad.

In Q, tatng ent ndutal deal

cmpleted n the Slcn Valley nudged up lghtly

t . pe quae t NNN m . pe

quae t the pevu quate. The nceae

a bt a upe, a . pe quae t NNN

at the hgh end Clle’ ecat the

yea, but demand eman table and

avalablte cntnue t declne the emande

the yea, a ld bump n tatng ndutal

ent culd be n the cad.

WAREHOUSEThe pule the Slcn Valle

waehue ect gt a l

tnge n the ecnd quate

, egteng , quae

g abptn. The actvty

the quate a .% nceae , quae eet pted n

and epeent the geat

waehue actvty n the lat

quate. Yea-t-date waehu

g abptn meaue

mlln quae eet, ght n lne w

Clle’ ecat

mlln quae eet the yea.

Avalable pace the waeh

ect cntnued t declne

uth taght quate and at m

yea, the waehue avalablty ate egte.%, dwn m .% the pevu qua

On a quae-t ba, avalable waehu

pace dpped belw the u-mlln-qua

t thehld the t tme n ve a ye

weghng n at . mlln quae eet avala

at the end Q. At the end the t qua

avalable waehue pace td at . ml

quae eet.

Pempved waehue pace added

avalable upply meaued nly , qu

eet n Q, dwn appecably m the ,

quae eet added n Q. Th lwe atellve pace cmng t maket much m

ndcatve a maket n ecvey. Wth

tng actvty level and ubdued llve p

etunng t maket, the Slcn Valley waeh

ect pted an ccupancy gan ,

quae eet, a healthy ndcat tablty n

waehue maket. The waehue ect

pted nly u quate ccupancy ga

WAREHOUSE AVAILABILITY & RENT TRENDS

With the strong activity level and subdued

rollover space returning to market, the

Silicon Valley warehouse sector posted an

occupancy gain o 291,572 square eet, ahealthy indicator o stability in the

warehouse market.

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

0.00%

3.00%

6.00%

9.00%

12.00%

Q 3 - 1 0

Q 1 - 1 1

Q 2 - 1 1

Q 3 - 1 1

Q 4 - 1 1

Q 1 - 1 2

Q 2 - 1 2

Q 4 - 1 0


WAREHOUSE LEASING & SALES ACTIVITY



41707 Chty Steet, Femnt 190,080 BIT Invetment Eleven, LP RK Lgtc Gup Leae

45125 Indutal Dve Femnt 66,893 PS Bune Pak, LP McCllte' Mvng & Stage Renewal

215 Le Avenue, San Je 50,000 Nem Ganza Danny Recyclng Ue Sale

2900 Fabe Steet, Unn Cty 36,332 Plg Day-Lee Fd Leae

2911 Mead Avenue, Santa Claa 26,808 Ochad Ppete Cty Beach, Inc. Renewal

4005 Whpple Rad, Unn Cty 25,646 RREEF Te & Wheel Mate Inc. Renewal





COLLIERS INTERNATIONAL | SAN JOSE

Wet Santa Claa SteetSan Je, CA

Unted State

TEL + FAX +

CA Lcene N.

ce n cunte n cntnent

Unted State: Canada:

Latn Ameca:

Aa Pacc: EMEA:

• $1.8 billion in annual revenue

• 1.25 billion square feet undermanagement

• Over 12,300 professionals

Th ept and the eeach mateal may beund n u webte at www.clle.cm/anjeTh quately ept a eeach dcument Clle Intenatnal – San Je, CA. Quetnelated t nmatn heen huld be dectedt the Reeach Depatment at + .Inmatn cntaned heen ha been btanedm uce deemed elable and n epeentatn made a t the accuacy thee. ClleIntenatnal the thd-laget cmmecal ealetate evce cmpany n the wld wth ,penal peatng ut me than cen cunte. © Clle Intenatna l

www.colliers.com/sanjose

Acceleatng ucce.

MANAGING PARTNER

Jef Fedeck, sior

Managng Patne [email protected]

TEL +

CA Lcene N.

RESEARCHER

Tey Wang

Reeach Pject Manage

[email protected] +

nce the tat the ecen, but tw them

have ccued n the lat thee quate.

Dung the quate, the Femnt ubmaket wa

the beneact tw deal that wee geate than

, quae eet. In act, the thee laget

waehue deal n the quate ccued n

Femnt—RK Lgtc Gup leaed ,

quae eet n Chty Steet, OnTac’ leae

, quae eet n Byce Rad, and SRI

Intenatnal gned , quae eet n

Ogd Rad. All tld, Femnt’ waehue

actvty n Q meaued , quae eet,

.% the ttal all Slcn Valley. A a

eult th tng demand, Femnt waehue

al pted an ccupancy gan , quae

eet ate a mncule gan , quae eet

ptve net abptn n Q.

The actvty n the et the waehueubmaket wa elatvely quet, even n San Je,

the laget waehue ubmaket. San Je’

g abptn ttaled , quae eet n

Q, upang Q’ palty gue , quae

eet. Depte the uptck n actvty the quate,

San Je ealzed a waehue ccupancy l

, quae eet.

Waehue deal cmpleted n Q had an aveage

tatng ent . pe quae t NNN,

unchanged m Q. A ecated, Clle

expect tatng waehue ent t eman n the

lw .’ NNN the emande the yea.

UNDERSTANDINGABSORPTION

Change in Availability: Th meauement mplythe deence between the amunt pace avalableat the end ne ped t the next. The table belwhw that ttal avalable pace deceaed by ,quae eet n the yea’ Secnd Quate. Nte that“change n avalablty” nclude adjutment pace that “taken the maket”. Space “taken the maket” nt a act n net abptnmeauement.

Total Available end of Q 4,835,739Plu: Vacant & Occuped Space

that came avalable n Q ,,Plu: New Shell added n Q ,Q Available + Newly Available in Q 47,534,489Le: Q G Abptn -,,Le: Q Adjutment/Taken Maket ,Total Available end of Q 4,45,89

Colliers uses several measurements to track

market conditions and deal flow. While related, the

formulas to arrive at these measurements differ.Using the results of the most recent quarter, here

is how Colliers measures change in availability, net

absorption and effective net absorption.

Net Absorption: Net abptn meaue the changen occupied pace m ne ped t the next.In th meauement, t mptant t dtnguhthat a buldng may be “avalable”, but nt vacant(ten the cae n a ubleae tuatn, example).Theee, ccupancy nt educed (negatvenet abptn) untl the pace vacated, and

metme that de nt happen untl the pace leaed, ceatng a net abptn “wah” the deal and that patcula ped. New Vacant Space that came available Q -,83,588Pevuly Avalable Space thatwa vacated n Q -,,Q Total Vacant added (Occupancy Loss) -3,94,3 Q G Abptn (ccupancy gan) ,,Q Net Absorption (change in Occupancy) ,457,45

Effective Net Absorption: In , Clle ceated ameauement “eectve net abptn”. Eectvenet abptn ue the ame mula a the net

abptn mula, except that t teat any pace thatcme avalable a t vacant, whethe t t n’t.The pupe the meauement t get a bette“eal tme” gauge ccupancy lw n and ut themaket, acknwledgng that pace that avalable leae lkely t be vacated htly and undeutlzedpeently.

New Vacant Space that came available Q -,83,588Occuped Space that came avalable Q -,,Q Total Available added -4,39,85

Q G Abptn ,,Q Effective Net Absorption ,5,686



http://slidepdf.com/reader/full/silicon-valley-research-and-forecast-report-q2-12 7/8P. 7 | COLLIERS INTERNATIONAL


ARKET COMPARISONS

FFICE MARKET

CLASS BLDGS

TOTAL

INVENTORY

SQ FT

DIRECT

VACANT

SUBLEASE

VACANT

DIRECT

OCCUPIED

SUBLEASE

OCCUPIED

TOTAL

AVAILABLE

SQ FT

RATE

Q-

RATE

Q-

NET ABSORPTION

Q- YTD

COMPLETED

Q-

UNDER

CONSTR

FWTDASK

MPBELL / LOS GATOS

19 1,123,609 180,391 3,054 35,221 1,443 220,109 19.6% 19.8% 2,369 60,788 - 55,510

88 1,705,230 160,457 - 23,523 14,581 198,561 11.6% 11.4% 15,232 41,214 - -

13 172,155 35,648 - 18,000 - 53,648 31.2% 27.4% 11,481 6,107 - -

al 121 3,000,994 376,496 3,054 76,744 16,024 472,318 15.7% 15.4% 29,082 108,109 - 55,510

PERTINO / SARATOGA

8 734,525 10,003 3,800 62,567 14,363 90,733 12.4% 6.9% 7,931 6,648 - -

83 2,530,294 61,991 - 5,817 1,197 69,005 2.7% 3.5% 18,326 32,688 - -

22 290,394 4,214 - - - 4,214 1.5% 2.1% 1,887 4,887 - -

al 112 3,555,213 76,208 3,800 68,384 15,560 163,952 4.6% 4.1% 28,144 44,223 - -

EMONT / M ILPITAS

15 805,847 243,616 12,446 37,101 - 293,163 36.4% 35.3% (25,822) 4,816 - -

39 1,247,290 323,023 - 5,623 - 328,646 26.3% 26.7% (6,555) (15,660) - -

35 636,178 57,197 - - - 57,197 9.0% 9.2% 1,535 (1,997) - -

al 89 2,689,315 623,836 12,446 42,724 - 679,006 25.2% 25.1% (30,842) (12,841) - -

LROY / MORGAN HILL

17 471,036 109,238 - 120,000 - 229,238 48.7% 23.2% 2,813 17,626 - -

7 120,088 27,513 - - - 27,513 22.9% 24.7% 2,202 5,063 - -

29 285,730 41,853 - 3,300 - 45,153 15.8% 16.1% 820 4,832 - -

al 53 876,854 178,604 - 123,300 - 301,904 34.4% 20.6% 5,835 27,521 - -

S ALTOS

9 231,534 13,151 2,979 11,924 - 28,054 12.1% 13.6% 15,293 12,314 - 13,484

17 326,781 90,306 984 25,495 - 116,785 35.7% 36.2% 4 ,955 6,714 - -

38 472,356 15,897 214 3,125 - 19,236 4.1% 4.0% 2,602 3,075 - -

al 64 1,030,671 119,354 4,177 40,544 - 164,075 15.9% 16.4% 22,850 22,103 - 13,484

OUNTAIN VIEW

22 2 ,196,395 49,715 17,935 71,524 - 139,174 6.3% 6.5% (29,949) (27,690) - 13,484

45 1,085,736 93,830 5,750 49,841 10,344 159,765 14.7% 12.8% (10,763) 26,419 - -

44 476,518 68,696 3,000 3,667 - 75,363 15.8% 15.3% (3,746) (12,895) - -

al 111 3,758,649 212,241 26,685 125,032 10,344 374,302 10.0% 9.4% (44,458) (14,166) - 13,484

LO ALTO

63 2,806,466 241,405 48,740 82,220 5,500 377,865 13.5% 14.7% 16,262 (29,388) - 81,612

105 2,406,015 147,139 32,006 19,029 6,929 205,103 8.5% 9.8% 5,509 (34,210) - -

83 929,756 44,758 4,434 6,245 9,866 65,303 7.0% 4.5% (13,791) (24,472) - - al 251 6,142,237 433,302 85,180 107,494 22,295 648,271 10.6% 11.2% 7,980 (88,070) - 81,612

N JOSE

84 11,342,644 2,327,819 124,617 239,475 154,630 2,846,541 25.1% 25.3% (28,440) (49,379) - -

239 8,595,498 1,317,048 47,332 77,536 - 1,441,916 16.8% 16.3% (67,586) (89,208) - -

187 4,193,337 620,557 12,905 28,016 - 661,478 15.8% 16.2% 25,545 (24,066) - -

al 510 24,131,479 4,265,424 184,854 345,027 154,630 4,949,935 20.5% 20.5% (70,481) (162,653) - -

NTA CLARA

33 4,738,104 802,019 98,306 25,603 125,137 1,051,065 22.2% 15.4% 53,402 107,251 306,900 429,000

129 3,969,247 762,728 31,853 30,103 66,106 890,790 22.4% 25.0% 20,777 9 3,519 - -

40 660,949 153,638 - - - 153,638 23.2% 25.1% 11,964 12,151 - -

al 202 9,368,300 1,718,385 130,159 55,706 191,243 2,095,493 22.4% 20.3% 86,143 212,921 306,900 429,000

NNYVALE

37 5 ,616,475 726,926 36,826 6,657 30,017 800,426 14.3% 13.0% (42,545) 98,592 - 357,481

57 1,349,562 248,987 3,098 19,843 - 271,928 20.1% 11.6% (117,872) (86,898) - -

24 471,440 140,232 - 3,270 - 143,502 30.4% 32.0% 8,392 9,008 - -

al 118 7,437,477 1,116,145 39,924 29,770 30,017 1,215,856 16.3% 13.9% (152,025) 20,702 - 357,481

LICON VALLEY TOTALS

307 3 0,066,635 4,704,283 348,703 692,292 331,090 6,076,368 20.2% 18.6% (28,686) 201,578 306,900 950,571

809 23,335,741 3,233,022 121,023 256,810 99,157 3,710,012 15.9% 15.8% (135,775) (20,359) - -

515 8,588,813 1,182,690 20,553 65,623 9,866 1,278,732 14.9% 15.0% 46,689 (23,370) - -

a l 1, 631 61,991, 189 9, 119,995 49 0, 279 1,014,725 44 0, 113 11, 065, 112 17.8% 17.0 % (117,772) 157, 849 306,90 0 950, 571

UARTERLY COMPARISON AND TOTALS

-12 1631 61,991,189 9 ,119,995 490,279 1 ,014,725 440,113 11,065,112 17.8% 17.0% ( 117,772) 157,849 306,900 950,571

-12 1628 61,524,289 8,725,921 621,168 760,010 3 56,560 10,463,659 17.0% 17.7% 275,621 275,621 - 460,980

-11 1630 61,592,727 9,057,155 783,190 817,627 219,949 10,877,921 17.7% 19.4% 584,091 2,058,284 - 623,536

-11 1631 61,619,625 9,867,657 805,687 1,031,023 235,214 11,939,581 19.4% 22.3% 512,438 1,474,193 - 599,968

-11 1630 61,581,453 10,665,407 870,103 1,472,590 730,230 13,738,330 22.3% 22.7% 680,087 961,755 - 578,312


http://slidepdf.com/reader/full/silicon-valley-research-and-forecast-report-q2-12 8/8P. 8 | COLLIERS INTERNATIONAL


ARKET COMPARISONS

&D, INDUSTRIAL & WAREHOUSE MARKETS

CLASS BLDGS

TOTAL

INVENTORY

SQ FT

DIRECT

VACANT

SUBLEASE

VACANT

DIRECT

OCCUPIED

SUBLEASE

OCCUPIED

TOTAL

AVAILABLE

SQ FT

RATE

Q-

RATE

Q-

NET ABSORPTION

Q- YTD

COMPLETED

Q-

UNDER

CONSTR

NWTDASK

MPBELL

D 69 1,416,290 135,718 - 53,863 - 189,581 13.4% 13.8% 28,376 34,908 - -

D 41 532,924 30,377 - 12,628 6 ,825 49,830 9.4% 9.9% 5 ,984 14,708 - -

TAL 110 1,949,214 166,095 - 66,491 6,825 239,411 12.3% 12.9% 34,360 49,616 - -

PERTINO

D 50 3,439,813 - - - - - 0.0% 0.0% - - - -

TAL 50 3,439,813 - - - - - 0.0% 0.0% - - - -

EMONT

D 346 18,767,569 4,119,026 162,638 398,432 72,799 4,752,895 25.3% 24.9% 113,922 (99,622) 118,535 -

D 355 9,113,518 1,388,544 40,229 48,585 - 1,477,358 16.2% 17.9% 145,628 (863,439) - -

SE 50 7,638,159 703,763 - 85,496 99,492 888,751 11.6% 16.2% 309,272 313,332 - -

TAL 751 35,519,246 6, 211,333 202,867 532,513 172, 291 7,119,004 20.0% 21.2% 568,822 (649,729) 118,535 -

LROY

D 9 373,694 143,299 - - - 143,299 38.3% 38.3% - (40,083) - -

D 73 1,357,937 248,984 - - - 248,984 18.3% 18.4% (640) (2,290) - -

SE 18 3,224,101 139,162 - 162,830 - 301,992 9.4% 4.7% 10,760 (14,821) - -

TAL 100 4,955,732 531,445 - 162,830 - 694,275 14.0% 11.0% 10,120 (57,194) - -

S GATOS

D 19 448,159 24,398 - - 27,833 52,231 11.7% 12.2% 2,528 2,528 - -

TAL 19 448,159 24,398 - - 27,833 52,231 11.7% 12.2% 2,528 2,528 - -

LPITAS

D 232 13,905,692 1,796,769 107,368 5,760 91,624 2,001,521 14.4% 14.6% 9,644 540,014 - -

D 118 2,943,569 229,080 - 72,148 - 301,228 10.2% 8.2% (28,864) 49,529 - -

SE 37 4,761,248 351,429 59,849 26,825 - 438,103 9.2% 9.7% - 26,571 - -

TAL 387 21,610,509 2,377,278 167,217 1 04,733 91,624 2,740,852 12.7% 12.7% (19,220) 616,114 - -

ORGAN HILL

D 62 2,688,925 517,783 - 10,983 - 528,766 19.7% 19.2% (2,413) (5,387) - -

D 76 1,882,576 205,155 - - - 205,155 10.9% 13.7% 35,697 12,465 - -

SE 5 384,880 - - - - - 0.0% 0.0% - - - -

TAL 143 4,956,381 722,938 - 10,983 - 733,921 14.8% 15.6% 33,284 7,078 - -

OUNTAIN VIEW

D 274 13,971,801 380,288 55,814 195,444 75,683 707,229 5.1% 6.2% 168,543 190,821 - -

D 149 2,704,073 135,054 - - - 135,054 5.0% 4.8% (6,274) (30,608) - -

TAL 423 16,675,874 515,342 55,814 195,444 7 5,683 842,283 5.1% 6.0% 162,269 160,213 - - LO ALTO

D 59 10,292,315 94,130 2 6,534 - 125,460 246,124 2.4% 2.5% 3 1,823 32,238 - 111,100

TAL 59 10,292,315 94,130 26,534 - 125,460 246,124 2.4% 2.5% 3 1,823 32,238 - 111,100

N JOSE

D 643 47,333,993 6,976,569 528,229 197,224 2 67,193 7,969,215 16.8% 17.2% 428,680 659,710 - -

D 1,085 22,571,733 1,267,702 84,966 138,455 5,000 1,496,123 6.6% 7.4% 156,019 240,464 - -

SE 179 16,365,906 1,193,586 83,462 362,004 - 1,639,052 10.0% 9.6% (59,860) (459,429) - -

TAL 1,9 07 86, 271, 632 9,437,857 696,6 57 69 7, 683 272, 193 11, 10 4, 390 12.9 % 13.2% 524, 839 4 40,745 - -

NTA CLARA

D 376 21,972,346 2,739,702 104,406 213,272 42,000 3,099,380 14.1% 14.9% 190,366 91,762 - -

D 613 10,827,576 532,063 13,222 118,663 7,675 671,623 6.2% 6.4% 7 0,014 3,445 - -

SE 30 3,229,532 158,075 20,000 84,600 134,160 396,835 12.3% 12.7% 1 2,800 58,800 - -

TAL 1,019 36,029, 454 3, 429,8 40 137, 628 416, 535 183, 835 4, 167, 838 11.6% 12.2% 273, 18 0 154,0 07 - -

NNYVALE

D 509 23,734,965 2,027,803 248,262 2 56,715 40,052 2,572,832 10.8% 10.8% (88,822) 173,904 - -

D 183 3,200,714 482,922 3,060 23,000 1,700 510,682 16.0% 16.9% 11,813 4,490 - -

SE 35 2,606,972 13,500 - - 90,544 104,044 4.0% 1.2% 18,600 26,183 - -

TAL 727 29,542,651 2,524,225 251,322 279,715 1 32,296 3,187,558 10.8% 10.6% (58,409) 2 04,577 - -

LICON VALLEY TOTALS

D 2 ,648 158,345, 562 18 ,955 ,485 1, 233, 251 1, 331 ,693 742 ,644 22, 263, 073 14.1% 14.4% 882 ,647 1, 580,793 118 ,535 111 ,100

D 2,693 56,435,637 4,626,473 141,477 419,955 21,200 5,209,105 9.2% 10.0% 400,958 (525,165) - -

SE 354 38,696,973 2,669,338 163,311 721,755 324,196 3,878,600 10.0% 10.4% 291,572 (49,364) - -

TAL 5 ,695 253 ,478 ,172 26,251,296 1 ,538 ,039 2,473,403 1 ,088 ,040 31,350,778 12.4% 12.8% 1 ,575 ,177 1 ,006 ,264 118 ,535 111 ,100

UARTERLY COMPARISON AND TOTALS

-12 5 ,695 253 ,478 ,172 26,251,296 1,538,039 2,473,403 1 ,088 ,040 31,350,778 12.4% 12.8% 1 ,575 ,177 1 ,006 ,264 118 ,535 111 ,100

-12 5,695 253,519,637 28,003,464 1,740,619 1,912,268 715,729 32,372,080 12.8% 13.1% (568,913) (568,913) - 118,535

-11 5, 694 253 ,390,939 27,526,912 1 ,824, 593 2 ,881 ,254 894,922 33, 127,681 13.1% 13.5% 978, 849 1 ,198, 452 - 118 ,535

-11 5,699 253,921,004 28,705, 297 2 ,147,988 2 ,817,178 508,099 34,178,562 13.5% 14.7% (236,016) 219,6 03 - 118,535

-11 5 ,700 253,950, 254 30,950, 283 2 ,406 ,292 3 ,289, 572 594, 232 37, 240, 379 14.7% 15.3% 1,761 ,413 455, 619 - 118 ,535

Silicon Valley Research and Forecast Report Q2-12

Documents

Transcript of Silicon Valley Research and Forecast Report Q2-12