Overall sales volume in Silicon Valley has jumped 85.9% year-over-year, equating to a $740MM increase from Q1 2012.
1.5 million square feet of commercial office space acquired by The Irvine Company over the past 18 months in Silicon Valley. 71.8% of which is located in the Santa Clara submarket.
If you looked at the #1 high watermark sales based on the dollar per square foot for each year over a 10-year period in the Valley, 7 of the 10 buildings would be located in Palo Alto.
$1,041 – The price per square foot that Sageleaf recently paid for 430 Forest Avenue in Palo Alto when they acquired the building from AAA in Q1 2013.
Did you know? – Google is among one of the top 5 buyers in Silicon Valley and has spent $137MM locally and $4.2B globally on asset acquisitions over the past 24 months.
Source: Jones Lang LaSalle Research