CBRE: Caltrain Premium Grows as Developers Take Notice

Developers, Premium, CBRE, CBRE Research, Caltrain, Silicon Valley, Bay Area

Developers, CBRE, CBRE Research, Caltrain, Silicon Valley, Bay Area

Transit-oriented office buildings, those within a half-mile walking distance of Caltrain stations, have seen lease rate premiums grow from 26% in 2008 to 54% in 2016. Their rise in popularity and value channelled development along the Caltrain corridor where a 28% growth in new transit-oriented office space has occurred since 2008. In contrast, non-walkable office space has grown by only 6%, evidence that Silicon Valley developers and landlords alike have found greater success capturing demand and prime rents within walking distance of a Caltrain station.

Source: CBRE Research

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