According to the news recently offices and hotels have been trading at higher rates. I haven't seen anything in the lease rates to justify higher prices for office buildings.
http://www.mercurynews.com/2017/07/1...-record-price/
I'm hopeful that some other proposals like 333 W San Fernando(
https://www.bizjournals.com/sanjose/...ntown-san.html) and the tower at the Four Points(
http://www.mercurynews.com/2017/04/0...town-san-jose/) might get built based on the higher demand. Though this might drive the more budget minded companies to move to Campbell. Downtown has been a fairly affordable office market for Silicon Valley for years.
With the extra demand they might actually get built. Not to mention all the residential demand if they jobs to materialize.