Tuesday, May 26, 2015

Apple and Tesla are Evaluating Expansion to San Jose!

The two hottest companies in Silicon Valley are contemplating expansion to San Jose! It has been a poorly kept secret that Apple is out of room and it's epic 2.8 million SQFT spaceship project in Cupertino will only cover a fraction of the space it needs. To make matters worse for Apple, Cupertino is not allowing any more office construction outside of a limited area round Valco. Reportedly, Apple has been looking at two different major San Jose projects to expand to: 101 Tech on Orchard Parkway (300,000 SQFT) and the Coleman Highline (up to 1.5 million SQFT).

To make things even more interesting, Tesla is also looking at 101 Tech. Whether it would be an expansion of their Palo Alto headquarters or a full move of their HQ is unclear (it would be much closer to the Tesla factory and the office space would cost half as much). In either case, they would be a very welcome addition to San Jose. Tesla actually wanted to create their factory in North San Jose near Aliso, but were not able to secure the state tax credits needed to build in the location.

Either one of these companies coming to San Jose would be a HUGE win. Nate's article is a great read and an excellent way way to start off the week. Grab a cup of coffee and read the full article via the source link below.

Source: SVBJ

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