Silicon Valley empty office space equals 15 Empire State buildings

January 5, 2010 5:44:08 PM PST
A Bloomberg news report says Silicon Valley is experiencing its largest amount of vacant office space in five years.

Data collected by a commercial real estate firm shows more than 43,000,000 square feet of office space stood vacant in the third quarter of last year -- that's the equivalent to 15 Empire State buildings.

The report also says the number of commercial property foreclosures will at least double this year.

Unemployment in the greater San Jose area was 11.8 percent in November.