Lendlease, Google end development deals for $15 billion San Francisco Bay Area projects

FILE PHOTO: FILE PHOTO: A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. Photo taken May 8, 2019. REUTERS/Paresh Dave/File Photo

(Reuters) -Lendlease Group and Alphabet's Google are mutually ending development services deals for four master-planned districts worth $15 billion in the San Francisco Bay Area, the Australian company said on Friday, as developers continue to exit California's real estate market.

Lendlease bagged the contract from Google in 2019 to develop the residential and retail space in Sunnyvale, San Jose and Mountain View, which could ultimately bring around 15,000 new housing units to the region.