Salient to Investors:
CBRE said office space in San Francisco rose the most in the world in the year to September 30 fueled by technology companies. Seattle had the 4th largest rise.
Asieh Mansour at CBRE said the U.S. high-tech sector has matured, with new applications for even traditional businesses. Mansour predicts San Francisco’s gains and Asia-Pacific expansion will slow in 2013 because there’s already saturation in the market. Mansour said London’s status as a global financial hub should offset austerity measures in the UK.
Central Hong Kong was the most expensive location in the world at $246.30 a square foot, followed by London’s West End at $219.81 a square foot and Tokyo’s Marunouchi Otemachi at $197.27. 12 of the top 20 most expensive office space were in the Asia-Pacific region.
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