Silicon Valley Real Estate Tanks To 2002 Levels

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Silicon Valley office space vacancy rates reached 18% in the first quarter, reports NAI/BT Commercial.

The amount of new square footage on the market — about  2.6 million — creating the largest negative absorption numbers since 2002.

Besides, you know, the apocolapyse, blame development freezes in Mountain View and Santa Clara, as well as Abbott Labs and eBay move to dump R&D space in the Valley.

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