TikTok, which already has office space at San Jose’s Coleman Highline tech campus, is now subleasing more space there.
While one tech company foreclosed its office space in the South Bay, another now has plans to expand. TikTok announced it completed a new rental deal for a tech building in San Jose. The move reflects the real estate market slowly making its way back after the pandemic. It’s been four years since the pandemic began and a San Jose-based analyst says commercial real estate took a major hit. Still, there are a few bright spots that continue to thrive in Silicon Valley.
Staedler says downtown San Jose continues to have significant value, offering more space for lower costs than San Francisco. Last October, San Jose Mayor Matt Mahan also announced the city would explore incentives to attract more A.I. companies and potential commercial tenants. "They’re subleasing adjacent to themselves. Everybody needs more space when you’re getting more engineers, getting more marketing.
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The Billion-Dollar Unraveling Of The 'King' Of Silicon ValleyI'm an Oakland-based technology reporter and Senior Writer at Forbes. Contact me at semersonforbes.com or securely on Signal at 510-473-8820.
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