CBRE Report "Scoring Tech Talent" ranks hottest office markets
A recent report from CBRE, Scoring Tech Talent, ranks the Top 50 U.S. markets for tech talent clusters, analyzing the competitve advantages of each market and ensuing ability to attract highly-skilled tech workers. The growth in tech talent has been a massive driver in demand for office space in major U.S. markets, pushing up property values and rents. According to the report the tech industry has accounted for the greatest share in US office leasing activity over the past two years, especially in markets like San Francisco where the tech industry was responsible for 95% of the 3 million square feet in occupancy gains since 2013. The residential real estate market also feels the impact of tech talent, as demand for apartment units is driving rents, especially in California markets, to all time highs.
Top California markets include: Silicon Valley (#1), San Francisco (#3), SF Peninsula (#4), Orange County (#12), Oakland (#15), San Diego (#17), Los Angeles (#18), Sacramento (#37)