So far, 2017 hasn’t been a feverish year for commercial real estate leasing, especially compared to busy 2015 and 2016, but analysts agree that it has been a good, stable year with plenty of important moves.
Among them are WeWork’s largest ever lease that just happens to be in a brand-new development in Mountain View. Meanwhile, Menlo Park-based social media giant Facebook is rapidly growing, inking multiple massive new leases in the area, and Amazon continued to spread its reach throughout the Valley with a renewed focus on the South Bay.
Thursday was the deadline for cities to submit a potential site to Amazon for its upcoming, Apple UFO-like $5 billion new North American headquarters, a secondary hub that the company says will compare in size and scope to its existing Seattle headquarters.
Naturally, Bay Area cities are clamoring to draw company CEO Jeff Bezos’s eye. In all, nine local cities want to attract Amazon with prime real estate, including a coalition of seven cities, dubbed the Northern Arc, who submitted jointly.
Investors continue to prefer core and core-plus investment strategies, but some of their focus has shifted to value-add class-B assets.
The grocer saw a traffic bump of 25 percent nationally in the first two days after the Amazon takeover.