10 Almaden Pulls a Hat Trick

After PriceWaterhouseCoopers moved to the shiny blue Sobrato tower, it left a 160,000 sqft vacancy in the 10 Almaden building. While it was good news that the Sobrato tower finally got a tenant, I remember a few people commenting that they would rather have kept foot traffic in the central part of Downtown instead of having it relocate to the outskirts. Well, it looks like 10 Almaden is quickly filling back up again.

Over the last few weeks Equity Office signed 3 major tenants which will gobble up 70,000 sqft in the high-rise:

• Move Inc. (32,405 sqft) - operates Realtor.com and other real estate sites
• Malewarebytes (21,924 sqft) - anti-malware solutions provider for both businesses and consumers
• Rosetta (11,640 sqft) - a brand within the global ad group Publicis

With these leases, Downtown San Jose will likely close out 2012 with office vacancies below 20% (in 2011 they were 27%). If we can get down to about 10%, we may start seeing some speculative building of office space Downtown.

Source: SJBJ