Real-estate developers are ramping up new office projects in Silicon Valley, confident that big technology companies will expand their workplaces and capitalize on the area’s new transportation and housing initiatives.
In San Jose, Calif., alone, three developers have office projects under way even though they have signed few or no leases in advance. Alphabet Inc.’s Google is planning a new 80-acre mixed-use development, where work will begin on infrastructure for the project by next year, according to city officials. Meta Platforms Inc.’s Facebook and Apple Inc. are also expanding their Silicon Valley space, according to real-estate brokers.
