George Avalos

United States

Business Reporter at Bay Area News Group

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Articles

Makeover into tech campus of old San Jose store site gets key city OK

1 week ago | mercurynews.com | George Avalos

Makeover into tech campus of old San Jose store site gets key city OK Planners approve first building that could emerge at site in prime location
Tech companies slash hundreds of Bay Area jobs as hiring slump persists

1 week ago | sanluisobispo.com | George Avalos |San Jose

May 29-Tech companies have slashed well over 400 Bay Area jobs in fresh rounds of employment cutbacks that offer an ominous warning that the industry's downsizing has yet to run its course. All told, three tech companies have disclosed plans to chop an estimated 419 jobs in the Bay Area, according to official WARN letters the firms sent to the state Employment Development Department.
Tech companies slash hundreds of Bay Area jobs as hiring slump persists

1 week ago | mercurynews.com | George Avalos

Tech companies have slashed well over 400 Bay Area jobs in fresh rounds of employment cutbacks that offer an ominous warning that the industry’s downsizing has yet to run its course. All told, three tech companies have disclosed plans to chop an estimated 419 jobs in the Bay Area, according to official WARN letters the firms sent to the state Employment Development Department.
Big developer puts huge San Jose tech campus project site up for sale

1 week ago | mercurynews.com | George Avalos

SAN JOSE — A real estate titan has decided to place on the sales block a massive San Jose property that originally was to be developed as a tech campus and then as a housing development. BXP — formerly Boston Properties — has put up for sale a 24-acre site in north San Jose, also saying Thursday that it has scrapped a recent push to pursue housing for seven acres of the prime property.
Lender grabs control of big South Bay office building over failed loan

1 week ago | mercurynews.com | George Avalos

SANTA CLARA — A lender has seized ownership of a big South Bay office building through a loan foreclosure that provides a fresh reminder that economic maladies still afflict Bay Area commercial properties. AllianceBernstein, a Tennessee-based investment and asset management firm, used an affiliate to take ownership of the building through the foreclosure. PCCP, a Southern California real estate firm, had acted through an affiliate to obtain a $72 million loan for the property in 2022.
Tech complex is eyed in San Jose on site of failed housing project

1 week ago | mercurynews.com | George Avalos

SAN JOSE — A tech hub is being pitched on the site of a failed housing development in San Jose, a project that could tie into Silicon Valley’s heightened appetite for artificial intelligence endeavors. The eight-story tech center could sprout at 199 Bassett Street in downtown San Jose, according to documents filed with city planners. Bird's-eye view of an AI research and development center at 199 Bassett Street in downtown San Jose, massing image.
Google seeks to sell some Mountain View sites that may become housing

1 week ago | mercurynews.com | George Avalos

MOUNTAIN VIEW — Google is pursuing the sale of 40 acres of its Mountain View properties for possible housing developments as the search giant seeks to operate more efficiently, the company confirmed. Spokesperson Ryan Lamont said the tech company is exploring the sale of its Middlefield Park site, a mixed-use neighborhood Google had secured approval for. “We continue to focus on investing in real estate efficiently to meet the needs of our hybrid workforce and business,” Lamont said.
Housing plans emerge for big chunk of vast San Jose tech project site

1 week ago | sacbee.com | George Avalos

SAN JOSE — A vision for market-rate and affordable homes has emerged for a big chunk of a San Jose site where a massive tech campus was planned and then scrubbed in the face of a fading office market. BXP, which for the great majority of its existence was known as Boston Properties, is planning two residential buildings on a property with addresses of 2830 North First Street and 45 through 65 East Plumeria Drive in north San Jose, documents on file with city planners show.
Housing plans emerge for big chunk of vast San Jose tech project site

1 week ago | mercurynews.com | George Avalos

Hundreds of homes are eyed for part of a San Jose site where a vast tech campus was once planned. RevContent Feed
PG&E sees "huge" data center demand in San Jose area as tech expands

1 week ago | mercurynews.com | George Avalos

SAN JOSE — PG&E is being flooded with requests for new data centers as big tech’s hunger for energy intensifies amid the artificial intelligence boom, a surge that could ease the jumps in monthly customer bills. The utility titan said it already is studying requests for new data centers that combined would require 8.7 gigawatts of electricity to operate.