Your Commercial Real Estate Source in the San Francisco Bay Area
Here’s an excerpt from the report:
The Silicon Valley industrial and warehouse markets began 2013 with strong owner/user sale activity. Speculation as to what would happen with the 411,618 square foot former Solyndra facility in Fremont was put to rest when Seagate closed on the property this quarter. Eureka Drive in Newark had two large owner/user sales, with Mitac purchasing 237,933 square feet and Unigen purchasing 127,781 square feet right up the block. In the south, Del Monaco Specialty Foods purchased a 126,378 square foot industrial building in Morgan Hill. Despite these large sales, it was not able to outpace new space available on the market. We recorded negative absorption in both property types for the first quarter.
As with many of the other submarkets, there seems to be good news all around.
Read entire report here.