I have had a number of calls from major East Bay office building owners over the past few weeks asking me if I thought the tech boom in San Francisco and San Mateo County would soon spill over into Alameda and Contra Costa counties.
25th June, 2012 - Posted by Jeffrey S. Weil, MCR.h, SIOR - No Comments
My opinion, for what it is worth, is that tech companies are successful based on the creativity and culture of their employees, and the techies in their 20’s and 30’s thrive on the vitality of San Francisco versus the predictability of the suburbs … and regardless of the rent differential I do not see very many firms leaping across the Bay just to save rent dollars … so when I read the front page of the June 8-14, 2012 San Francisco Business Times “Creative Overflow Tenants next stop for stylish digs: Oakland” I couldn’t wait to read about the big relocations from San Francisco to the burbs … I will be the first to admit when I am wrong, and if we can start getting the 50,000 sf and other large tech users to lease office space in my neighborhood, cha ching cha ching! But at least now, this is not to be … the article talked about the handful of 2,000 to 5,000 square foot users recently relocated to Oakland, and that was that …
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Posted on: June 25, 2012