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The growth of the tech workforce has long had an impact on U.S. metros, sparking real estate development and creating a need for more housing. Tech talent has been flocking to the San Francisco Bay Area because of additional opportunities and the number of tech jobs available across multiple industries. The Bay Area scored the highest in CBRE's latest tech talent report. 
At 4.9 million, tech workers make up 3.5% of the workforce in the U.S., but they can make or break a city's real estate market. Tech workers have added over 1 million jobs to the U.S. economy in the past…
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First Data Center In 10 Years To Be Built In San Francisco
San Francisco will soon have its first data center in over a decade. 1547 Critical Systems Realty and CIM Group bought 7.3 acres at 400 Paul Ave. in the Portola neighborhood and will break ground in the fourth quarter on…
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Office Building Next To Concord BART Sells
Swift Real Estate Partners, GEM Realty Capital and Flynn Properties have purchased an office tower in Concord. Newmark Knight Frank facilitated the sale of One Concord Center, a Class-A 15-story office tower. The sales price was not disclosed, but the…
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The Construction Labor Shortage Needs Major Institutional FixesAsk commercial developers in a major market to name their biggest challenges, and the rising cost of construction will be at or near the top of the list. But while the complaints have grown louder in recent years, the underlying problem has been decades in the making, and the current administration's policies only figure to make it worse. |
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Exclusive: Booming Leasing Activity Counters Crazy Supply In Top 10 Office MetrosThe top 10 office markets fared well in the second quarter, thanks to robust leasing activity that led to strong absorption and moderate rent gains, according to Colliers International's latest Top Office Metros Report. Six of the 10 largest office markets in the country, as tracked by Colliers, experienced positive net absorption in Q2. Still, rising supply and corporate downsizing are putting upward pressure on vacancy rates. Four markets enjoyed a jump in rents, while rates in the other six metros remained flat. Next is a quick snapshot detailing the performance of the top 10 office markets in Q2. |
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