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Colliers Hosts 23rd Annual TRENDS Event

Trends2022_1536x1040

Panelists present optimistic outlook for Bay Area and national commercial real estate based on strong performance and resilience across sectors in 2021

San Jose, CA, 2/23/2022 – Today, leading diversified professional services and investment management company Colliers presented their 23rd annual TRENDS event highlighting firm’s outlook for 2022 across all sectors of commercial real estate. Held virtually for the second year in a row, the program expanded its coverage to include national, San Francisco and Seattle insights on top of the event’s traditional Silicon Valley analysis. Panelists from Colliers and Moody’s Analytics noted the market’s strong performance in 2021 and suggested that the West Coast is well-positioned for a pandemic comeback starting this year.

“As we move out of the COVID-19 restrictive landscape and forward into a new era of commercial real estate and business, we aimed to have this year’s Trends 2022 event capture a market narrative that properly conveys the shifts expected within our Northwest region and greater U.S. market,” said Managing Director for Colliers Bay Area Steffen Kammerer. “The conversation around real estate and how we utilize space flexibly and to create workforce agility is changing. For the West Coast we are very fortunate to have the opportunity to be the pilots of this new social experiment.”

In 2021, the U.S. commercial real estate market’s deal volume and price appreciation hit a record high. Warehouse distribution and multifamily out performed all other assets, and by the third quarter the office market’s absorption reversed it’s negatively trending course.

“This is the year we return to the office. We will start to see a flight to quality as companies reengage employees that are comfortable working from home and bring them back to the office with amenitized packages,” said National Director of Research, Steig Seaward said, “Medium-sized tech markets like Austin, Nashville and Salt Lake City will lead the way to recovery. Major tech markets along the West Coast, although challenged at the moment, will also be a part of that recovery.”

In comparison to other technology-driven cities on the West Coast such as San Francisco or Seattle, Silicon Valley was the only one to generate positive net absorption in the office sector. Silicon Valley’s office sector recovered all of the absorption lost in 2020, about 1.5 million square feet. Major technology companies like Google, Apple, Meta and Amazon that either maintained or expanded their real estate footprints in 2021 and the amount of new development in the market helped boost absorption for the area. “What we have in the Bay Area is a very mature, stable and profitable base of tech companies coupled with a very healthy startup culture. This will bode well for our office, R&D and industrial markets, but beyond that, it will positively impact other sectors of commercial real estate like multifamily, retail and the hospitality,” said Research Director for the Silicon Valley and San Francisco Peninsula Lena Tutko.

The program’s keynote, Senior Economist and Head of Narrative Analytics for Moody’s Analytics Thomas LaSalvia added that “Market sentiment for commercial real estate is very strong and will be sought after as other investments threatened by geopolitical tensions and supply chain factors become weaker. This new interest rate environment that we’re moving towards indicates slight cap rate increases and good conditions for real estate investment.”

Please visit our event website for additional event information and research, including the full Colliers 2022 Silicon Valley Trends Market Forecast Report.

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 64 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.1 billion and more than $50 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.


Media Contact:
Solana Tanabe
Allison + Partners Northern California
solana.tanabe@allisonpr.com


 


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Steffen Kammerer

Regional Managing Director, Bay Area

Silicon Valley

Steffen Kammerer joined Colliers as the Silicon Valley Executive Managing Director in 2021 after a successful career in tenant representation at JLL. Based in San Jose and living on the Peninsula, Steffen has a unique understanding of the market and what it takes to be successful in the Bay Area. Steffen's approach to business is similar to life - people first. With the opportunity to further differentiate Colliers by being a be servant-based leader, Steffen was quick to recognize the value he could bring to the company. In his new role, Steffen is responsible for the strategic direction and performance of Colliers Silicon Valley, including leadership of Agency Leasing and Occupier Services.

After growing up in the Bay Area and marrying his high-school sweetheart, Steffen and his wife, Danielle have two beautiful, energetic boys that keep their hearts and schedules full outside of the office. With a focus on chasing joy in life and supporting those around him, Steffen’s leadership in the Bay Area is bound to take Colliers to the next level.

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Steig Seaward

Senior National Director Research

Los Angeles - El Segundo

Steig Seaward is the national director of research and oversees the research and GIS teams for the United States. A proven CRE tech leader, Steig brings 25+ years of experience providing research and analysis, product design and customer retention strategies across the information technology and commercial real estate industries.   

Prior to joining Colliers,  Steig spent nine years as the senior research director overseeing research and marketing operations for the east coast region of Grubb & Ellis and more recently was the EVP of Customer Success at Xceligent, a full service-SAAS based commercial real estate information provider.  Steig also served as the national director of Business Development and Client Services during his 13-year career at Xceligent.  In addition, Steig also gained valuable experience as the director of sales for IdealSpot, a demographic and site selection software provider, VP of Technology & Member Services for the Denver Metropolitan Commercial Association of Realtors and began his career as a research analyst for the Resolution Trust Corporation.

Areas of expertise include:

·       Commercial Real Estate Research & Analysis

·       Customer Facing Solution Sales

·       Product Design & Implementation

·       Customer & Employee Curriculum Development and Training

·       SAAS/Subscription-Based Services

·       Customer Success Development

View expert