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2022 Q1 San Jose-Silicon Valley Market Research Report

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The Great Return

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Silicon Valley’s commercial real estate market expanded by 1.7 million square feet in the first quarter of 2022 as confidence rolled over into the new year. Leasing activity was robust with more than 6.0 million square feet of gross absorption, up 60.0% compared to Q1 2021. Overall market vacancy fell for the third consecutive quarter and stands at 6.4 percent, down 50 basis points year-on-year.

 

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2022 Q1 San Jose-Silicon Valley Market Research Report

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Lena Tutko

Director - Research

Silicon Valley

Lena is the Research Director for Colliers covering the Silicon Valley and San Francisco Peninsula markets. With more than 15 years of experience in commercial real estate research, she is passionate about providing strategic market insights that help move the business forward. Lena leads a team of research analysts and is enthusiastic about maintaining the highest level of data integrity and transforming data into knowledge.

Lena began her career in commercial real estate with Real Capital Analytics, where as Senior Research Manager she led cross-functional teams in Silicon Valley, New York and London. Prior to joining Colliers , she was a Market Research Manager at Omnicell Inc., where she led research initiatives for the company’s Global Automation and Medication Adherence business segment. Lena holds a B.A. in Economics from the University of California, San Diego.

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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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