Bay Area Office Construction Pipeline Shrinks to 636,000 SQFT, Led by Preleased Silicon Valley Campuses

Colliers' Q2 2026 report shows the Bay Area's office construction pipeline has shrunk to just 636,000 square feet, with 89 percent of it concentrated in two build-to-suit Santa Clara campuses fully leased to Nvidia and Arista Networks — a sign that developers are refusing to break ground without a committed AI-era tenant already locked in. […]