For more details, just head over here.
Tuesday, November 16, 2010
The Sobrato Tower FINALLY Get's a Tenant!
It has been confirmed! PWC will be moving to 209,151 sqft of shiny blue glass in downtown San Jose known to most as the Sobrato tower. This flagship AAA office space has been vacant since completion in 2002. A few years ago it was destined to become the BEA headquarters, but Oracle's acquisition of BEA put a hold on those plans. Finally, this amazing building will be utilized. I was fortunate enough to tour the top floor a couple years after it was complete, and this is easily the nicest office building Downtown, if not in all of San Jose. It is unfortunate to have such a great space empty for so long... but that's all history now. Come early 2011, at least thirteen hundred workers are going to be very happy.
For more details, just head over here.
For more details, just head over here.
Subscribe to:
Post Comments (Atom)
i don't get why this is a positive. that building is so far out of the way from downtown proper... what about their current space sitting empty, which is more critical to a vibrant downtown core?
ReplyDeleteYou're right, it's definitely at the edge of downtown. However, it is still within a 10min walk of SoFA and the Cesar Chavez loop. There is also a huge development opp across the street (Boston properties was originally going to build a 1 million sqft office property there with retail).
ReplyDeleteHere's the main reason why I think it's a positive. 10 Almaden is also a flagship building in a great location... however, they are willing to split the building for multiple tenants. By the time PWC moves out, I wouldn't be surprised if most of that building is leased again. The Sobrato Tower was really designed for a single major tenant and is clearly a nightmare to fill. It's been a white elephant for 8 years. However, with both buildings full by the end of next year the net effect will be more people downtown. The PWC gang is already used to being downtown, they're still going to patronize the same places as well as hopefully discover some new ones. Availability at 10 Almaden is going to bring in some fresh blood into the area and put them right in the DT core.
i agree with your point to a certain extent. i wonder where city hall is in all of this. it seems like the city is too often silent, when they should be more vocal and engaged regarding such large lease negotiations. ok, one empty/awkwardly positioned building has a new major tenant, but is there a plan for 10 almaden? what will probably happen is some other downtown firm in a lesser building will trade up, still leaving a huge vacancy rate.
ReplyDeletenot trying to be negative, just don't understand how the city can be so absent at times. i am a downtown resident and work downtown and it seems like things happen in a vacuum more than not (new businesses and other development, etc.).
"Where City Hall is in all this..." is at a press conference right now about the lease, with the mayor fielding questions alongside PwC's market managing partner.
ReplyDeleteHmph.
ReplyDelete