SAN JOSE, Calif. (KRON) — A recent analysis reveals commercial real estate sales in Silicon Valley soared last quarter.
The latest analysis from Joint Venture Silicon Valley’s Institute for Regional Studies, shows increased investment activity between July and September, drove commercial real estate sales volume up to an aggregate of $6.3 billion — the highest since 2015.
Overall, the report reveals vacancy rates continue to stay at “elevated levels,” slightly widening the gap from pre-pandemic levels.
Many projects that were slated for completion in late 2020 were delayed due to pandemic construction materials and labor shortages.
As a result of the pandemic,…