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Report: Tech Growth Pricing Tenants Out of S.F.

A new report from CBRE took a look at rent growth in the top 30 tech cities across the US and Canada, and the Bay Area topped the list. Here's what you need to know.

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CBRE director of research Colin Yasukochi says the growing number of high-tech integrated businesses should keep the industry strong in the years ahead. But it's certainly come with a cost. CB's Tech-Thirty report has S.F. ranked No. 1 in rent growth, jumping more than 30% between Q2 of 2013 and Q2 this year. Silicon Valley came in second with about 28% rent growth in the same time period.

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But don't just blame the techies, as they're also keeping the markets going. The report states in many leading tech markets, such as Silicon Valley and San Francisco, high-tech companies accounted for 88% and 62%, respectively, of major leasing activity through Q2 2015. Still, rising rents have pushed many firms in the Bay to look at Oakland, as pricing remains much more affordable.

Related Topics: CBRE, Silicon Valley, Colin Yasukochi