Overall for the year, the change in total occupied space (net absorption) increased 2.4 million square feet. In addition, approximately 3.0 million square feet of deals have been completed at projects that are under construction or waiting to be built.
Jeff Fredericks, SIOR, managing partner of Colliers’ Silicon Valley office, commented, “Our region remains one of the country’s bright spots and it was a good year for the commercial real estate market overall.”
Colliers International's full market report will be released at Trends2013, its annual commercial real estate forecast, scheduled for February 13.
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. Colliers International focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive magazine ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most-