Silicon Valley's booms set fire to the local real estate market and new construction followed. But after a year or so of recession, south bay is littered with ghost buildings and empty office complexes.
At 20.5%, vacancy rates are the highest they've been in the Valley since 2003. Vacancy in research and developments spaces is at 18.9%, according to CB Richard Ellis. In Sunnyvale, more than half of the available offices are empty.
Combined, a total of 41.7 million square feet of R&D and office space lay bare in Silicon Valley. That's twice the size of Monaco.
See some of the most massive unused office parks in Silicon Valley →Here
LINK HERE
I live in San Jose and vouch for this article. It is far worse than any of us thought it could be.
ReplyDeleteMaybe the 31 million dollar complex could be turned into an in/outdoor skate park for the kids. $10 pass for all day.
ReplyDeleteThank U bankers, US Congress, US Presidents and Illuminati.
ReplyDeleteIf you want more perspective on this and other parts of the USA, go on Google Earth, or Microsoft Virtual Earth, and look at the square miles of stuff like this. Also go and look at the square miles of McMansions in CA, AZ, NV and other places. For example, in Sun City, AZ, look at the circular subdivisions of rows and rows of McMansions and even older "palaces" people have built, some still living in of course, some even paid for these days----Roads to other roads and subdivisions, roofs of houses nearly touching each other----backyards less than 15 feet long and swimming pools showing up like blips on a radar!!! My God---what have we done??????
ReplyDeleteRemember how CLinton promised the tech jobs to replace all the manufacturing he was sending to China.
ReplyDeleteRemember how Bush, Jr signed all the tech jobs to Pakistan and India.
Remember how Obama said we would have no more war.
silicon valley now makes silly-con sex dolls
ReplyDelete