The trend can be seen in places like Redwood City, Palo Alto and Mountain View. Firms cite new restaurants and bars and improved public transportation for their moves. Some cities have responded by revamping zoning to allow for construction of more office space, says Pui-Wing Tam.
Disparate vacancy rates reflect the phenomenon, Tam writes:
"Commercial vacancy rates are particularly low in the downtown areas of some Silicon Valley towns, with downtown Menlo Park's prime office space just 3.3% vacant in the second quarter compared with the city's overall 14.8% commercial vacancy rate."
Comments
Migration to/from Downtowns - for businesses
this is indeed a most interesting article - reading about businesses move into downtown Redwood City as I sit here at the counter at Bob's Courthouse Cafe (opposite the old Courthouse - now museum, and new Courthouse (public) Square.
However, in reading, "Facebook Inc. was located in downtown Palo Alto for a spell, he notes, and the social-networking company's success has sparked a "copycat mentality" by other companies for urban locales" one must note that they outgrew their quarters and are now in one of Silicon Valley's oldest office parks, the Stanford Research Center - lacking sidewalks, mixed uses, and miles from the Caltrain station....(connected by commuter shuttles). In addition, Palo Alto, from what I've read, has really high office rents - and many have left and relocated in SF - though I don't know which part of PA that refers to.
Irvin Dawid, Palo Alto, CA