SAN FRANCISCO – The West dominated CBRE’s recently published list of the top 20 submarkets with the most high-tech service jobs and office rent growth. The region claimed 10 of the 20 spots, while San Francisco nabbed the top honor on this list, dubbed the “Tech-Twenty,” which was compiled using data from CBRE Research and the Bureau of Labor Statistics. The study examined job growth from 2009 to 2011 and office rent growth from the second quarter of 2010 to the second quarter of 2012.
Silicon Valley (3), Portland, Ore. (6), Seattle (8), Salt Lake City (9), Denver (12), San Diego (15), the San Francisco Peninsula (16), Los Angeles (18) and Orange County (20) rounded out the Tech-Twenty. The study notes that Silicon Valley’s Mountain View and San Francisco’s South of Market (SOMA) submarkets experienced two-year rent growth above 10 percent. The submarkets experienced an 83 percent and 59 percent increase, respectively.