Despite having double digit vacancies in many areas (::cough:: Downtown ::cough::), the average office rents in the San Jose area somehow still found a way to rise. They climbed a surprising 4.1%, which puts us 3rd on the list of office rent increases nationwide. We were only bested by SF (6.8%) and New York (4.8%). I'm not sure if this is a stat to be very proud of, as higher office rents will reduce demand for companies to locate here and in turn put negative pressure on the job market. However, it does show strength in the overall market, so it is at the very least a positive short term sign.