The area's tech firms, which typically favor office parks, are increasingly drawn to revitalized urban centers, according to The Wall Street Journal.
The trend can be seen in places like Redwood City, Palo Alto and Mountain View. Firms cite new restaurants and bars and improved public transportation for their moves. Some cities have responded by revamping zoning to allow for construction of more office space, says Pui-Wing Tam.
Disparate vacancy rates reflect the phenomenon, Tam writes:
"Commercial vacancy rates are particularly low in the downtown areas of some Silicon Valley towns, with downtown Menlo Park's prime office space just 3.3% vacant in the second quarter compared with the city's overall 14.8% commercial vacancy rate."
FULL STORY: Start-Ups Are Drawn to Pulse of Downtown
Tech Giants Bank on Growth, Acquire More Space
To provide room for long-term expansion, companies like Google, Facebook, and LinkedIn are buying up even more Bay Area real estate. Their flush cash reserves have them nudging out the traditional development and investment crowd.
How Office Parks and Corporate Campuses Evolved
The office park has become a suburban given, disliked by some, but once it represented a utopian vision of work away from the city. Here's a look at how the Silicon Valley model developed, and where it might be going.
High Tech Embraces Suburban-Style Office Park Thinking
Critics claim tech companies such as Apple and Google are guilty of repeating past mistakes of urban development by creating suburban campuses that isolate themselves from the surrounding community.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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