Sunnyvale Colorado Real Estate
Sand Hill Property Co. appears on track to begin construction of a $1.2 billion 1,500-unit apartment building in San Jose, Calif., that would include the largest single-family housing development in the city's history, but key details of the groundbreaking plan have been seriously questioned by the new City Council. Silicon Valley has seen a boom in commercial real estate in recent years without providing adequate housing. Developers have managed to do so despite a difficult climate and will soon reap the rewards of their hard work and investment in high-quality office space. But when will the region's multifunctional housing sector follow suit?
Assessor Larry Stone will discuss the future of Sunnyvale's multifunctional housing market and the role of the City Council. Stone, a real estate investor and developer by profession, has been elected assessor for 24 years and has been re-elected seven times with a large majority. He was a Wall Street finance executive, founded Sand Hill Property Co., one of Silicon Valley's largest commercial real estate companies, served two terms as mayor of Sunnyvale, and was elected to the Santa Clara County Board of Directors in 2010, the county's highest office.
Since then, numerous high-tech companies have set up offices and headquarters in Sunnyvale, including Advanced Micro Devices and Yahoo! In 2010, Palo Alto became home to many major technology companies, including Apple and LinkedIn, both of which are headquartered in Sunnyvale. Vivante Corporation is one of only a few Sunny Vale-based companies to create new jobs, expand the region's talent pool and generate revenue. Companies based in Sunnilyvale include: Apple, Google, Facebook, Microsoft, Intel, Oracle, IBM, Cisco, Hewlett-Packard Enterprise, Qualcomm, HP, Lenovo, Samsung, Siemens, Toshiba, T-Mobile, Sun Microsystems, U.S. Cellular, Unilever, United Technologies, General Electric, Verizon, Wal-Mart and others.
Software company Synopsys has committed to adding 360 K SF, while cybersecurity firm Proofpoint has stepped in to lease a total of 242K SF in two buildings. Hedrick said the annual full-service rent for the new Vivante Corporation office is $59.40 a month for the remaining buildings, with an annual ground rent of $60,000.
This means that many buyers and tenants from other parts of the country, such as Los Angeles, San Francisco and San Jose, are moving to Sunnyvale. The high-pay tech sector is a great opportunity for property investors who can choose to work with tenants and buyers working there to ensure they can pay their rent on time.
While home prices have risen 28.7%, the number of single-family homes that real estate investors have bought and are expected to buy in the city has increased by more than 20% over the past five years, according to the U.S. Bureau of Labor Statistics.
The Association of Realtors' research puts the demand for lower price tags down to first-time buyers taking advantage of lower interest rates. The move by buyers toward online resources has forced brokers to follow suit, "said John D'Agostino, president of the Colorado Real Estate Association, an association of real estate agents.
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For more information, please visit our Sunnyvale, CA Property Management page and our Knowledge Center. Learn more about the city, its amenities and library services in the city of Sunnydale, California by visiting our Public Library page. The Sunnyvalley Public Library, located in the Sunny Valley Civic Center, offers library services to all cities.
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