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Pacifica Commercial Realty’s recently released first quarter report found that the technology sector has been generating enough new ventures to account for the majority of the quarter’s leases.
More than 60,000 square feet of office space in Goleta was leased during the first quarter, which Pacifica Executive Vice President Mark Mattingly said is entirely attributable to companies in either the technology or information management industries.
“At year-end everyone was wondering if we had the tools to rein in the market free-fall that was affecting the stock market, bond market and the economy as a whole,” Mattingly said. “Three months later, it would appear the answer is ‘yes,’ but that the cost will be staggering.”
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