Mark Bodie: Happy Belated Fourth
Here's JLL's Mark Bodie on Monday, fresh (and tan) from a long Fourth of July vacay. He's back at it in the Silicon Valley office, which just spit out some jaw-dropping Q2 stats. An insane 3.5M SF is under construction or renovation in the Valley, despite analyst warnings that current conditions are drawing eerie parallels to the dot-com boom. Landlords don't seem to be scared, with North San Jose quickly becoming the focus of several tenant requirements. Orchard Parkway, otherwise known as “renovation row” for the high volume of recently rehabilitated space, recently landed several deals and it is suggested that more tech firms are close to completing leases in the area. Last week's NPR story about more Aussies infiltrating Silicon Valley will be an interesting trend to watch, especially as San Jose Mayor Chuck Reed works to loosen up immigration laws to get more foreign talent stateside. (Go America!)
