This seems to me like a unique opportunity for next-gen startup incubators and the coworking movement to lease space at rates that would enable startup entrepreneurs to use the kind of digs that are normally completely outside of their reach.
I recently landed at a small startup in San Diego. We're downtown in class A office space, 16th floor with a Pacific view, and we pay less than $2.50/sqft.
I'm having a hard time seeing how being in the bay area is worth 13× the price during a glut, but I've only worked here in San Diego so I could definitely use some perspective.
Any questions?
Based on my (rather limited sample) my analysis of the article is that the rates being quoted were per _year_, not per month.
$2.50/SqFt per month is pretty expensive unless you are in Downtown San Francisco.