| Colliers SVPs Ken Meyersieck and Alan Collenette (pictured) are talking about the tech rush to San Fran and Oakland. Burgeoning business for cloud, gaming, and mobile drives the techies away from the 'burbs of Silicon Valley and into a more thrilling, 24-hour city. The result: space hoarding going on by companies like Zynga and Google, renting more space than they need because they want to attract the “right” employees. Not the same thing as “shadow space,” where space was rented but never occupied. There are actually more tech jobs in San Fran today than there were in 2000, and that’s with virtually no new product. Yet the vacancy rate in 2000 was about 2% and today it’s about 10% to 12%. This spills into Oakland as well, which is positioning itself to capture the “new employee” who wants an urban live/work/play. For more info on our sponsor, clickhere. |
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