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2021 Q4 San Jose-Silicon Valley Market Research Report

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Big Tech Comes Off the Sidelines, Absorption Rebounds

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Silicon Valley’s commercial real estate market expanded by 2.3 million square feet in 2021, making up for half of the absorption lost in 2020. Quarterly leasing activity was strong with nearly 7.0 million square feet of gross absorption, up 89.3 percent compared to Q4 2020. For the second consecutive quarter since the start of the pandemic the market saw positive occupancy gains, surpassing 1.2 million square feet. Fourth quarter gains were driven by the revival of the office market and preleased new construction.

 

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2021 Q4 San Jose-Silicon Valley Market Research Report

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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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