Twitter, the San Francisco micro-blogging social network, announced this week that it was expanding its office space with the lease of an additional 10,000 square feet at Sunnyvale Business Park, at 400 West California Ave. The company first established its presence at Sunnyvale in May of this year with the lease of 8,000 square feet of space, along with the commitment from property owner Principal Real Estate Investors to construct a 107,000-square-foot office building next to the existing building for additional Twitter space.
Dave Sandlin, a Colliers International senior vice president who represents Twitter's Sunnyvale property, said some San Francisco tech companies are realizing they need to have a presence further south. After all, while the city might be the hot talent market right now, the greater San Jose metro area also carries some advantages. "If you look at the housing situation in San Francisco, trying to put all your workers up there is very difficult, " said Sandlin.
The emphasis on San Francisco signifies how Silicon Valley, an area extending south from just below San Francisco to San Jose, California, no longer has a grip on technology companies, as reported by a New York Times article this month. About 18 months ago, tech companies started moving or expanding here to be closer to their employees. According to reports, Twitter is looking to add 320,000 square feet to its footprint in San Francisco, bringing its total to about 600,000 square feet.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment