Silicon Valley rents continue to plummet, down 30% in 2002
According to a News.com story:
Annual rent for high-tech work space in Silicon Valley averaged $15.24 per square foot in the fourth quarter, down 29 percent from $21.48 per square foot in the first quarter, according to Cushman & Wakefield, a commercial real-estate services company.
Average annual rents in the region had been as high as $50.88 per square foot in the first quarter of 2001.