People Power Will Save The Silicon Valley

The Silicon Valley, according to a recent Milken Institute study, represents roughly six percent of the entire tech output in the nation.

1 minute read

June 19, 2002, 6:00 AM PDT

By Chris Steins @planetizen

With such major regional icons as Hewlett-Packard and Intel announcing weak earnings, and layoffs still spreading throughout the tech sector, these should be gloomy times for BT Commercial's Drew Arvay, who is Silicon Valley's leading real estate mogul. Vacancy rates, negligible just two years ago, are now hovering around 20%, not only in the heart of Silicon Valley but throughout a larger area reaching all the way up to San Francisco...Mr. Arvay admits that the real estate scene has deteriorated and may not turn around in the next year or two, but he also sees precious few opportunities for a "fire sale" of Valley properties...

Thanks to REIS, Inc.

FULL STORY: People Power Will Save the Valley

Tuesday, June 18, 2002 in REIS

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