Lendlease has recently announced the termination of its partnership with Google for the development of four neighborhoods in Silicon Valley. According to a report by the Silicon Valley Business Journal, this includes Downtown West, an 80-acre mixed-use project in San Jose. The decision was made due to current market conditions not being mutually beneficial for both parties.
Collectively, these four projects were expected to generate a total real estate investment of $15 billion. Along with Downtown West, they also encompassed Middlefield Park and North Bayshore in Mountain View and Moffett Park in Sunnyvale.
Despite Google’s temporary pause on development at Downtown West earlier this year, it is reported that all projects will still move forward. In a statement given by Alexa Arena, senior director of development at Google stated that they are continuously optimizing their real estate investments in the Bay Area and exploring various options to fulfill their housing commitment.
The post Lendlease Ends Partnership with Google on Major Silicon Valley Projects appeared first on Connect CRE.
