Sunnyvale R&D Rents Were $6 to $7 ???
June 9, 2009
Check out this article from KCBS, which was partially discussed on the radio. $6 to $7 rents in Sunnyvale? When? For a few months during the dot com bubble a decade ago? I hope they took this out of context, otherwise it seems like a pretty misleading statement to make.
“Rents were as high as $6 or $7 for instance, in Sunnyvale in the research and development market and yes, they’ve fallen to as low as $1,” he said.
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Sunnyvale is one of the most oversupplied and overbuilt areas in all of Silicon Valley. Rents are going to continue to fall there.
Probably quoted annual rents! I predict the Valley average to be $1.00 NNN psf/month.