In September, the Bay Space (East and South Bay), pushed by the market’s thriving tech and life science hubs, had 10.3 million sq. toes of workplace house beneath building—the third largest pipeline within the nation after Manhattan and Boston—whereas 7.9 million sq. toes of workplace house taking form throughout the San Francisco Peninsula market.
Between January and September, six properties amounting to 1.9 million sq. toes of workplace house have been delivered within the Bay Space, whereas 3.2 million sq. toes of workplace provide got here on-line in San Francisco. Virtually one hundred pc of those properties are Class A product, reflecting the realm’s robust demand for high-quality workspace. Listed below are the highest Bay Space submarkets for workplace building, primarily based on CommercialEdge information.
5. Emeryville
Located on the East Bay between Berkeley and Oakland, Emeryville is the house of Pixar Animation Studios, together with a number of well-known tech corporations. As of September, the Emeryville submarket had 867,572 rentable sq. toes of workplace house beneath building throughout 5 workplace properties. Out of the 5, 4 are life science amenities—echoing ongoing developments throughout the submarket.
Emeryville Middle of Innovation. Picture courtesy of BioMed Realty
BioMed Realty is behind the most important life science mission within the making throughout the Emeryville submarket. In April 2021, the corporate acquired approval for the growth of its Emeryville Middle of Innovation campus. At that time, the campus consisted of a 303.000-square-foot analysis constructing, totally leased to Zymergen Inc. 4 new lab/workplace buildings totaling 950,000 sq. toes are deliberate for the extension, with the primary section, comprising 281,000 sq. toes, already beneath building.
4. Mountain View – Shoreline
An integral a part of Silicon Valley’s early historical past, the town of Mountain View homes the headquarters of quite a few massive tech corporations, together with Google, Microsoft, LinkedIn and Samsung. As of September, the Mountain View – Shoreline submarket in Santa Clara County had 994,810 rentable sq. toes of workplace house within the making.
Google is wrapping up building on its Google Charleston East constructing throughout the firm’s first ground-up campus dubbed Bay View. Designed by two of essentially the most revolutionary structure studios, Bjarke Ingels Group and Heatherwick Studios, the 595,000-square-foot mission will home roughly 3,000 staff. The cover-covered, 111-foot tent-like construction will intention for LEED Platinum certification.
3. Sunnyvale – North
Google Caribbean. Picture courtesy of the Metropolis of Sunnyvale
A part of the Santa Clara Valley, Sunnyvale represents the birthplace of the video trade. A number of the greatest tech gamers have workplaces within the metropolis, with the realm’s largest employers together with Google, Apple, Amazon, Microsoft and LinkedIn. In September, 1.3 million sq. toes of rentable workplace house was beneath building throughout the Sunnyvale – North submarket.
Google is presently creating a two-building, 40.5-acre workplace campus within the Sunnyvale – North space, to complete greater than 1 million sq. toes. The Metropolis Council permitted the mission generally known as Google Caribbean in 2020 and building broke floor the next 12 months. Bjarke Ingels Group can also be behind the ziggarut-like structure of the buildings.
2. San Jose – CBD
With a big bounce from the earlier entries by way of under-construction pipeline, the San Jose – CBD submarket noticed 2,972,330 sq. toes of workplace house within the making, as of September. Because the cultural and monetary middle of Silicon Valley, San Jose is essentially the most populous metropolis within the Bay Space and the third most populous metropolis within the state. One of many wealthiest cities on the earth, San Jose has the third highest GDP per capita—in addition to the fifth-most costly housing market—on the planet.
Park Habitat. Rendering courtesy of Westbank
The 2 largest workplace developments presently taking form in San Jose’s CBD are each rising alongside Park Avenue. Positioned at 180 Park Ave., Westbank’s Park Habitat mission will create 1.3 million sq. toes of workplace, museum and retail house. Designed by world-renowned Japanese architect Kengo Kuma, the mixed-use constructing is ready to grow to be one of many first internet zero carbon workspaces within the nation. Development formally broke floor in April, with deliberate completion in 2025.
1. South San Francisco
As of September, South San Francisco had the most important under-construction inventory throughout the Peninsula and Bay Space submarkets, reaching 2,982,010 sq. toes, in response to CommercialEdge information. Town has one of many nation’s largest life science hubs. Final 12 months, a complete of three workplace properties amounting to almost 1.2 million sq. toes got here on-line within the space.
Kilroy Oyster Level. Rendering courtesy of Kilroy Realty
In June 2021, Kilroy Realty Corp. broke floor on the second section of Kilroy Oyster Level, a 50-acre, 3 million-square-foot life science and workplace megadevelopment. The primary stage of the waterfront mission, totaling 656,000 sq. toes, was accomplished final 12 months. The second section dubbed Gravitate will create 860,000 sq. toes of lab and workplace house, throughout three separate buildings. The seven- and eight-story ensemble will goal LEED Gold certification.
