Silicon Flex-es Strong Muscles
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Cushman & Wakefield head of research for the Americas group Maria Sicola says skies should be bright for the industrial sector over the next three years and SV is a star, according to a report fresh off the press this morning. In terms of flex space, tech is driving new supply to the highest level in six years. The report says Silicon Valley has outperformed other regions in space absorbed over the past three years and is expected to remain on top, accounting for 18% of national absorption in that time period.
Other top performers around the country are Boston, driven by tech, pharmaceuticals and life sciences; Denver (energy and aerospace); and Dallas (energy and technology). The three are predicted to absorb a combined 4.8M SF in the same three-year period. Portland is among the markets expected to experience positive momentum going forward.