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California Continues to Dominate CRE Surveys
California dominated the top spots in a study from CommercialEdge, claiming 29 out of the 50 entries, including first place. Menlo Park, currently home to Facebook’s headquarters, was at the top of the list as the most expensive office submarket in the nation. Asking office rents here averaged $109.57 in fourth-quarter 2020.
And, for the month of December, California accounted for 10.6 percent of all U.S. merchandise exports. For the entire calendar year, California’s $156.112 billion export trade was 9.9% below last year’s $173.326 billion, according to Beacon Economics’ analysis of the latest U.S. trade statistics recently released by the U.S. Census Bureau.
Manufactured exports in 2020 totaled $99.417 billion, down 11.3% from 2019, while exports of non-manufactured goods were 6% lower at $20.914 billion.
“What’s remarkable is that despite the global economic fallout from the pandemic, California’s export trade in December very nearly matched its total one year earlier, before COVID-19 first appeared in a newspaper headline,” said Beacon Economics’ international trade adviser Jock O’Connell.
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- ◦Economy
