Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (38715)	1/3/2003 2:52:50 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69972

Silicon Valley rent plunges By Reuters January 3, 2003, 5:15 AM PT Rent in Silicon Valley for high-tech commercial real estate fell almost 30 percent in 2002, extending a slide that began a year earlier, according to a new study. Annual rent for high-tech work space in Silicon Valley averaged $15.24 per square foot in the fourth quarter, down 29 percent from $21.48 per square foot in the first quarter, according to Cushman & Wakefield, a commercial real-estate services company. Average annual rents in the region had been as high as $50.88 per square foot in the first quarter of 2001. Silicon Valley, home to scores of big and small technology companies, has been hammered by the high-tech industry's downturn, sending local commercial rents tumbling as companies consolidated facilities while slashing payrolls. Silicon Valley had about 30.15 million square feet of commercial space suited for high-tech companies available for rent in the fourth quarter of 2002, up 37 percent from 21.96 million square feet of such vacant space in the first quarter of last year. The region's vacant high-tech real estate was a low 3.1 million square feet in the third quarter of 2000 when Silicon Valley's local economy was booming. The unemployment rate in Santa Clara County, the region's heart, was 7.8 percent in November, down from 8.1 percent in the prior month but up substantially from 1.3 percent in December 2000.