Another Costco Coming to South San Jose

An empty 76-acre Edenvale site near Highway 85 and Great Oaks could become the site of another Costco. This is land that used to be part of the IBM/Hitachi campus. In addition to the massive wholesaler, there would be 260,000 SQFT of new office space, ~50,000 additional SQFT of retail, and 720 housing units. The city of San Jose plans for this to eventually become and urban village connected with mass transit.

One surprising side benefit of this development project is that $10 million would go towards the new San Jose Earthquakes Stadium. The money would be used for upgrading the stadium, including an upgraded seating system and riser, and a terra-cotta finish.

Source: SVBJ

Johnny Cash's Tribute Show is Coming to the Montgomery Theater

James Garner's critically acclaimed tribute to Johnny Cash and the Tennessee Three is coming to Downtown San Jose on January 18th. In addition to performing hits like "Ring of Fire," "I Walk the Line," and "Folsom Prison Blues," Garner will recount stories about Johnny Cash and his band. So you get both the songs and the story behind the songs.

Tickets for James Garner's Tribute to Johnny Cash are available at SanJoseTheaters.org and range from $31-46.

Virident Moving from Milpitas to San Jose

Virident is a storage company that specializes in flash-based technologies that are used in data centers. They have decided to move their headquarters from a 30,000 SQFT space in Milpitas to 68,000 SQFT at 1745 Technology Drive in San Jose. The building used to be part of the old Brocade campus before they moved to @First.

Virident will bring with it over 100 employees, along with the potential to house nearly 300 in the new space. While the main reason for the move was to have room to expand, I like how a company executive also mentioned it was "closer to amenities employees may be looking for."

Source: SVBJ

Wednesday Wishlist: Retail Under Highways

In Houston, one of this issues that is currently holding back developers are the highways that bifurcate the city, especially in their downtown area. Gensler (which is a SF-based firm) suggested building retail underneath Houston highways to better connect city streets divided by highways and spur development. I have seen this concept in action when I visited Tokyo many years ago. Heck, there are even whole shopping malls built underneath streets and highways there.

Building retail underneath highways and major roads could make a lot of sense for Downtown San Jose, especially where Highway 87 crosses Santa Clara Street and San Fernando Street. Eventually we will have major art installations in both of those locations, but having retail there would take it to the next level. North Almaden and 87 (leading to Little Italy) would be another great spot. I'm sure there are several potential retail sites along 280 as well.

What do you guys think?

Source: Anonymous Poster, Houston Business Journal

Sharks Planning SAP Center and Sharks Ice Upgrades

Last month John Tortora, the COO of Sharks Sports & Entertainment, made several interesting comments about the future of the Shark Tank and Sharks Ice (the Sharks' practice facility which is also open to the public). It sounds like he is interesting in remodeling the SAP Center to keep it competitive for prestigious events, especially given the $1.3 billion stadium going up in Santa Clara. One of the specific things he mentioned is rolling out new technology like in-seat food and merchandise delivery. This is exactly what the 49ers are planning for the new stadium--a mobile app is used to have items delivered right to your seat.

Tortora also has plans to expand the Sharks Ice facility a stones-throw away from Downtown San Jose. It is already the largest ice facility west of the Mississippi, but he would like to take it from four sheets of ice to six. The total cost of that project would be in the $60 million range.

Source: SVBJ

Santana Row in January, February and March 2014

Check out the release below for the latest news, promotions, and events happening at Santana Row:

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San Jose, CA (Jan 3, 2013) – Happy New Year from Santana Row! The Row is gearing up for another exciting year of celebrations, openings and events in 2014. We hope you’ll share the journey with us.

 

Rainy Day Rewards, through March 31, 2014

When there’s a 70 percent or greater chance for rain, shoppers and diners braving bad weather will be rewarded with discounts that include 15 percent off purchases at participating shops and restaurants, a free signature Santana Row golf umbrella for customers who spend $150 anywhere on The Row and a $20 gift certificate to a participating shop or restaurant for customers who spend $300 on a designated Rainy Day.

No need to get wet: On all rainy days, customers can pick up a complimentary umbrella to use while shopping and dining and then return it before leaving. The yellow umbrellas are conveniently located throughout The Row - outside Concierge, Via between Village California Bistro and Lark Creek Blue and the valet parking lot in the Winchester Parking Garage.

 

Silicon Valley Education Foundation Wine Stroll

Thursday, Jan. 9, 6 p.m. to 9 p.m.

Sip wine, shop and stroll and enjoy chef demonstrations and samples at this event benefiting the Silicon Valley Education Foundation. The evening includes a reception inside Misora, the newest luxury community at Santana Row.

Tickets are $30 and can be purchased online at www.SantanaRow.com or at the concierge office. Registration opens at 5:45 p.m. in Santana Row Park across from Left Bank Brasserie.

A look ahead to February and March…

 

Wine & Dine Around Benefit for the American Heart Association

Saturday, Feb. 8, 2 p.m. to 3 p.m.

More than a dozen Santana Row shops and restaurants host exclusive in-store events with complimentary wine and food pairings and incredible one-time discounts available only to ticketholders, all to benefit the American Heart Association. The wine stroll begins on Olin Avenue at 2 p.m. Tickets are $30 and include access to all in-store events, a Heart Card shopping pass, wine bottle tote bag and a signature Santana Row wine glass. Tickets available in person at Concierge or online at santanarow.com.

Chinese New Year Celebration

Saturday, Feb. 22, 1 p.m. to 4 p.m.

Kung Hei Fat Choi! Santana Row celebrates the Year of the Horse with an afternoon of Chinese New Year festivities. The celebration begins at 1 p.m. with exciting drumbeats and crashing cymbals of the Lion and Dragon dances in Santana Row Park.

The afternoon is filled with a lineup of traditional live performances celebrating the start of a new year and includes martial arts demonstrations, fashion presentations, music, singing and dancing.

The event is free and open to the public.

 

Third Annual 408K Race to the Row

Sunday, March 2 

The eight-kilometer road race that benefits the Pat Tillman Foundation and its Team Tillman initiative is winding through the streets of San Jose for the third year in a row. It starts at SAP Center on The Alameda and ends at Santana Row. The 8K run last year drew more than 4,000 runners.

For information and registration, go to: www.run408k.com

 

Twitter Promotion @SantanaRow Invites Tweets #LifeOnTheRow

For a Chance to Win Gift Cards to Restaurants at The Row

Santana Row’s Twitter campaign and photo contest continues through the @SantanaRow Twitter handle. The contest invites anyone at Santana Row to Tweet photos of a new outfit, haircut, meal, event or artsy shots and then Tweet it to Santana Row with the hash tag #LifeonTheRow. Every month, Santana Row will post an album on Facebook with all of the photos with the #LifeonTheRow hash tag. The person who took the best or most original photo will win a gift card to a Santana Row restaurant.

 

About Santana Row

Santana Row a 1.5 million square foot mixed used development in the heart of San Jose, California, is Silicon Valley's premier destination for shopping,

dining, living and nightlife. Surrounded by landscaped gardens, parks and plazas, Santana Row features over 70 retail shops, more than 20 acclaimed restaurants, a 212-room boutique hotel and six-screen movie theatre. In addition to the dynamic retail collection, Santana Row offers 622 residential units featuring a fitness center, rooftop pool and resort-living accommodations, and 65,000 square feet of office space at 300 Santana Row, its newest office address. Santana Row is a property of www.federalrealty.com (NYSE:FRT), headquartered in Rockville, Maryland. For more information, please visitwww.santanarow.com.

 

 

 

About Federal Realty

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.3% leased to national, regional, and local retailers as of September 30, 2013, with no single tenant accounting for more than approximately 3.4% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 46 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.

New KT Properties Sister Tower Renders!!!

The two tower high-rise project across from the San Pedro Square Market has gotten a new set of renders, and the buildings look gorgeous! This is what towers in Silicon Valley should look like. Be sure to check out the night shot below, highlighting the cool LED accent lighting.

It appears that this KT Properties project is now being called "Silvery Towers." Also worth mentioning, there is a three-story retail pavilion that is separate from the two towers. An outdoor dining terrace will be part of the top retail pavilion floor featuring a nice view of the San Pedro Square Market. The main building will have tons of retail and two large bike-parking rooms on the ground floor. On the podium there is an infinity-edge pool, bocce ball courts, and common areas for residents.

My hat goes off to KT Properties on this project. If you are still on the fence on whether Downtown San Jose is on a positive trajectory or not... the renders below should help sway you in the right direction.

Source: mjmcalister from the San Jose Development Forum

Student Apartment Project Groundbreaking in June

While not as impressive as Centerra or One South, Symphony Development is planning a dense infill project targeting SJSU students at 51 N. Sixth Street. The site is a parking lot for the First United Methodist Church right behind the 12-story Art Deco Vintage Tower. The building will consist of 119 market-rate apartments spread across seven stories on a one-acre lot (the first two floors will be parking). The total price tag will be around $40 million.

I don't believe this project has a retail component, but the sketch below does look like it has a couple sections that would make ideal retail spots. They could simply be communal areas. There is some retail right in front of this building in the Vintage Tower, as well as tons of places to eat within a few blocks such as Ike's, ISO: Beers, Cafe Pomegranate, 4th Street Pizza, Punjab Cafe, and popular SJSU hangout spot SmokeEaters. There will also be a BRT station within a block or two. I think this will be a great addition to the neighborhood!

Source: SVBJ