that Apple had pre-leased 5407 Stevens Creek, citing a report earlier that year from Cushman & Wakefield. But Cushman later found out the tech giant hadn't actually pre-leased the building, said Joshua Deale, a spokesman for the firm. The brokerage quietly corrected its earlier report in the third quarter last year.
An Apple representative declined to comment on prior reports the company had pre-leased the building. The structure at 5407 Stevens Creek replaced an IHOP restaurant that was formerly on the site. In addition to its office space, it will have a two-story 133,490-square-foot underground parking garage, according to Peery Arrillaga's website.
The building is nearing completion amid an uncertain market for Bay Area office space. With the Covid-19 pandemic still lingering and many office workers continuing to frequently work from home or remotely, many local companies — most notably Meta Platforms Inc. —Economic and Mayors' Forecast - 2023 Join 4 local Mayors as they discuss the economic outlook for Silicon Valley. The event opens with a presentation from Bank of America's Senior US & Global Economist, Aditya Bhave.The Business Journal is looking for the most influential women in the Silicon Valley to honor in our prestigious special publication and event.
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