For the second year in a row, the Bay Area ranked as the best market for commercial real estate in the country, according to a report from the Wells Fargo Economics Group.
The report found that the Bay Area’s strong gains in employment, housing inventory and technology sector push the Bay Area far ahead of other markets in terms of increasing value and potential for more growth.
“The San Francisco Bay Area remains the epicenter of many of the most rapidly growing technology sectors, including mobile devices, social media, cloud computing, data analytics and life sciences,” the report states. “Overall job and income growth have significantly outpaced the nation in recent years and the unemployment rate has fallen to its lowest level in nearly six years.”
Read more: San Francisco Business Times Bay Area ranks as the best commercial real estate market in the …
The decision for Salesforce to expand into the future Salesforce Tower is another example of how real estate, jobs and tech intertwine.