And commercial contractors say the time is right to unleash the untapped potential of these structures. As a result, those antiquated, boxy buildings that once served the defense industry and technology pioneers are being either razed or remodeled into sleek, glassy mid-rises for today's workplace. Almost everything has doubled and tripled in value since then. Altera Corp., Cisco Systems Inc., Sun Microsystems Inc. and Atmel Corp. are among the numerous companies that have purchased large parcels for bigger, more modern facilities. Although land is quickly becoming scarce, the resulting high prices have not curbed construction.
Business is hotter than ever.
Fremont, Newark, Union City, Morgan Hill and Gilroy have become viable addresses, because prices are lower there and land is still available. Infill sites are still available. Countless small vacant lots are tucked between large campuses or retail centers. Though useless for corporate campuses, these are suitable locations for small office buildings and retail centers. But the bulk of construction is on existing sites, previously occupied by some of the valley's biggest names.