Posted by: BayAreaComRE | August 30, 2010

Sourced: Tech tenants seek office space near Caltrain stops

We pulled an interesting article from the Biz Times regarding technology tenants penchant for locating near Caltrain stops. Both of us at Bay Area Com RE have rode Caltrain at some point in our careers and the ease of use truly makes it a successful public transportation thoroughfare. It will be interesting to see how the High Speed Rail train “Fly California” will come into play, when these same technology tenants will be just a few hours away from Los Angeles as well.

Peninsula office landlords near Caltrain stations are finding themselves on the right side of the tracks. With the overall Peninsula office market still grappling with a 20 percent vacancy rates, buildings near Caltrain stations are faring far better…The squeeze is especially pronounced in downtown Palo Alto, where vacancy near the Caltrain station is about 5 percent…The trend illustrates a problem confronting brokers and tenants alike. Many companies, especially the young tech firms that have long been a crucial part of the Peninsula’s economy, want to be within walking distance of a train station as well as the restaurants and other amenities available in the downtowns of Redwood City, San Mateo, Burlingame, Palo Alto and Mountain View. But office buildings a short stroll from these downtowns are in short supply.

Continue reading here…

Thank you to J.K Dineen and Biz Times for the write-up.

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