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Saturday, October 20, 2012

Saturday Stats: Downtown San Jose Office Vacancies Drop 5.6%

For the past several years, office vacancies in Downtown San Jose have been astronomical. I remember the Sobrato tower sitting empty waiting for an owner for what seemed like ages. Even today, one of the River Park Towers is still empty.

The good news is that a huge dent has been made towards reducing these vacancies in the last year. During Q3 2011, the vacancy rate of office space Downtown was an abysmal 27.1%. That has since dropped to 21.5% in Q3 2012, a 5.6% reduction. Still not fantastic, but substantially better than the year before. I think in 2013 we'll finally see this number drop below 20%.

Source: SJBJ

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6 comments:

  1. Good News BoyOctober 20, 2012 at 6:29 PM

    Guess what? Muji, a major Japanese department store, is opening in Downtown San Jose in April 2013 at the Fairmont Annex.

    ReplyDelete
  2. AnonymousOctober 20, 2012 at 8:16 PM

    Apple is going to have their rumored iPad mini reveal at the California Theatre here in downtown San Jose on Tuesday.

    ReplyDelete
  3. AnonymousOctober 20, 2012 at 9:15 PM

    Are the above posts about Muji and the iPad mini cruel jokes?

    ReplyDelete
    Replies
    1. Joshua SantosOctober 21, 2012 at 4:45 PM

      Nope, in fact those are my planned topics for tomorrow and Tuesday's posts.

      Delete
  4. AnonymousOctober 21, 2012 at 3:11 PM

    No.

    ReplyDelete
  5. AnonymousOctober 22, 2012 at 10:45 PM

    Looking at that picture, I really wish someone would design a building that stands out. Even if they are not even 300 ft. Too much open space

    ReplyDelete