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Silicon Valley Apartment Rents Down

October 21, 2009

Tweet So says RealFacts. On rents… Rents on apartments in Santa Clara County dove by 10 percent in Santa Clara County in the third quarter compared with a year earlier, a report said Wednesday. RealFacts said rents asked at large complexes fell to a two-year low of $1,536, down from $1,708 last year and $1,522 […]

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US Office Vacancy At 5-Year High; Rents Plummet

October 7, 2009

Tweet REIS is out with data on the US vacancy rate, and it continues to hike down the hill. Vacancy is now at 16.5%, a five-year high. Meanwhile, office space rents are falling at the fastest pace in a decade. Negative absorption in the third quarter proved to continue at a greater level than it […]

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Q3 2009 Update: Silicon Valley Rents, Vacancy Rate, and Unemployment Numbers

October 1, 2009

Tweet It’s been about two quarters since we last updated our chart for Silicon Valley office rents, vacancy rates, and unemployment. The latest numbers indicate what we anticipated, and that is unemployment numbers would continue to have a significant impact on rents and vacancy rates. What’s more is that the unemployment numbers continue to be […]

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Tax Credits and The Law of Unintended Consequences

September 29, 2009

Tweet Calculated Risk has a great post on how tax credits designed to move the housing market are leading to additional pressure on banks, holders of CMBS, owners, and ultimately taxpayers. The rental vacancy rate for housing in this country is already at some 10.6% as of the second quarter, 2009. The tax credits are […]

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Retail Woes Push Vacancy Rates Up

August 23, 2009

Tweet Vacancy rates across every product type have been on the rise, and retail is no exception. The Mercury News has two quick articles out today, one discussing the increasing vacancy rates on the Peninsula, and the other focused on Bryant Street retail in Palo Alto. Not much to say except the retail market expierenced […]

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Sunnyvale R&D Rents Were $6 to $7 ???

June 9, 2009

Tweet 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 […]

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Getting Warmer: EOP Drops Redwood Shores Rents Again

May 28, 2009

Tweet We’ve spent some time in the past discussing the Redwood Shores as a sort of case study. We originally discussed the Redwood Shores submarket back in January of 2008 when we indicated that rent hikes in Redwood Shores were nothing more than hype, driven mainly by Equity Office. Let’s look at that market again. […]

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CBO: US Unemployment to Continue to Rise Through 2010

May 21, 2009

Tweet The congressional budget office has issued a report predicting that despite an expected turn around the economy, unempoyment would continue to rise through 2010. This does not bode well for commercial real estate. We have previously shown the lag effect between unemployment moves and rent/vacancy. If unemployment continues to weaken in Silicon Valley as […]

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London Update: Rents to 1991 Levels; Vacancy Expected to 19%

May 14, 2009

Tweet Bloomberg has an article out discussing expectations that rents shortly will be on par with 1991 levels, while vacancy numbers approach 20%. The city of London seems to differ somewhat from our local market in that they seem to be dealing with a fairly severe supply problem, whereas San Francisco and Silicon Valley have […]

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YoY Rate of Commercial Delinquencies Up 5x

May 7, 2009

Tweet Commercial mortgage delinquencies are up to 2.45%, a number which is 5x the rate during the same period a year ago, and an 11-year high. The Bloomberg article reporting this number also indicated that from October of 2005 to last November, commercial delinquencies remained under 1%. The highest segment which is delinquent is multi-family […]

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