San Jose Retail Market Report
Reopening of Technology Campuses in the First Half Of 2022 Key to Retail Outlook
Silicon Valley retail awaits return of tech giants. The long-term outlook remains bright, though the migration of many highly paid workers is delaying a stronger recovery in the retail arena. Furthermore, the emergence of the COVID-19 variants is giving pause to some to the local economy’s anchors. Google, Apple and Facebook have all pushed reopening into early 2022 as the current wave of positive cases needs to pass. Nonetheless, tech companies in the South Bay do plan on bringing all or a majority of their workers back to their expansive campuses, which will boost retail spending next year and into the future. New retailers will follow workers into the metro in 2022, filling up space that was left dark by other tenants that were unable to survive the recession.