Inside San Jose's BriteLab

First off, let me say that I have really missed Nathan Donato-Weinstein's articles in the SVBJ. I am thrilled to see him writing again in the SJ Economy blog.

He recently visited BriteLab, a high-tech South San Jose manufacturing company that makes everything from 3D printers to electric skateboards. The 55,000 SQFT space is a startup incubator that helps new companies bring their products to market. BriteLab provides product-development, design, engineering, manufacturing, and support services. Currently BriteLab employs 75 people, but they are planning to grow to 150.

For all the details, check out Nathan's article over here.

Source: SJ Economy

Santana Row 'Capstone' building is officially under construction

Development in the Santana Row neighborhood will likely never be fully complete, but the last major project with an official Santana Row street address is now underway. '700 Santana Row' will provide a bookend to what is one of the most successful mixed-use developments in the world.

The 284,000 SQFT premium office building will be located at the very end of the row next to the CineArts movie theater. The offices feature 13-foot ceilings, expansive floor plans, and a 15,000 SQFT garden terrace on the roof. The ground floor will have a signature plaza that will be open to all.

Parking will be available in a new parking structure that will also be open to the public during evenings and weekends. Thankfully, Santana Row will be offering shuttle service to Diridon Station as an alternate transportation option. The total cost of the project is expected to be between $205-215 million and completion should wrap up by Q3 2018 according to the SVBJ.

The full press release is below. Thanks to Ron Heckmann for sending this in.

Federal Realty Starts Construction on 700 Santana Row, Headquarters-Quality, Large-Floorplate Office Building Anchoring Iconic Santana Row

284,000 square-foot Class-A Office Building in Silicon Valley’s premier urban neighborhood
designed to attract burgeoning Silicon Valley firms

San Jose, CA (Dec. 1, 2016) -- Federal Realty Investment Trust (NYSE:FRT) started construction today on 700 Santana Row, a 284,000 square-foot office building set on a signature plaza with a sweeping design that anchors the end of Santana Row, Silicon Valley’s iconic mixed-use neighborhood. San Jose Mayor Sam Liccardo joined Federal Realty executives and other local officials to commemorate the ground breaking.

The state-of-the-art, eight-story structure at Santana Row at Olsen Drive features 30,000 and 48,000 square-foot floorplates, modern architecture and headquarters-quality office space with concrete construction, which gives the building distinctive design qualities compared to traditional Silicon Valley office buildings. 700 Santana Row follows the highly successful 500 Santana Row, a six-story office building on an adjacent site fully-leased to Splunk Inc. in 2015 with occupancy slated to begin next month. The project cost is estimated at $205-$215 million.

"700 Santana Row is a ‘capstone’ building that takes full advantage of being the visual book-end to Santana Row, which has become one of the most popular live-work-dine-shop environments in Silicon Valley and the Bay Area. No other office building will have this unique, commanding location,” said Jan Sweetnam, Federal Realty’s Western Region Chief Operating Officer.  “We’ve designed the building with a concrete structure and loft-like feel more often found in San Francisco’s SOMA district and other urban centers. 700 Santana Row will feature expansive natural light with tall, market-leading 13-foot ceilings and open floor plans, which in turn will provide companies with high-productivity, collaborative workspaces for their employees.”

Ready for tenant build-out in the third quarter of 2018, 700 Santana Row will also feature a three-per-thousand dedicated parking ratio and a 15,000 square-foot roof-top terrace and garden with majestic views of Santana Row, the San Jose skyline and distant foothills.  Shuttle service will take Santana Row office tenants to nearby Diridon Station for Caltrain and VTA light rail service.

“And unlike the congested 101 corridor,” Sweetnam added, “Santana Row is located directly off of Interstate 280 in close proximity to residential neighborhoods and office parks in San Jose, Palo Alto, Mountain View, Sunnyvale, Cupertino, Santa Clara, and throughout Silicon Valley.”

“The on-site amenities and walkable environment that Santana Row offers has become a recruiting and retention tool for Splunk, Experian, Si-Bone and the other companies located here,” said Jeff Berkes, President-West Coast for Federal Realty Investment Trust.

Newmark Cornish & Carey is the leasing agent for the project.  700 Santana Row has been designed by WRNS Studio of San Francisco, and Devcon Construction is the general contractor.

Santana Row’s world-class amenities include 50 shops, 30 restaurants, a 215-room boutique hotel offering extensive full service conference facilities, two parks and multiple plazas with outdoor seating and free wifi, 615 rental homes and 219 privately owned condominiums.

For more information on leasing at 700 Santana Row, contact Randy Gabrielson, Todd Shaffer, or Tracey Solari of Newmark Cornish & Carey at 408.727.9600.  Or visit http://theofficesatsr.com/building/700-offices/


About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 96 properties include over 2,800 tenants, in approximately 22 million square feet, and over 1,800 residential units.

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 49 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.

San Jose rents are going back up

Just when it looked like the real estate market was simmering down, San Jose rents have jumped up again. In fact, for November rents are up percentage-wise more than anywhere else in the county for one-bedroom units. The average rental price for these is now $2,591/month, which is a 13% increase over the previous month.

The reason for the surge is not clear, but most experts believe we are indeed at the top of the market and expect some decline going forward. It might be a good time to hold off on signing a long-term rental agreement.

Source: SVBJ

New art unveiling at the San Jose Museum of Quilts and Textiles tonight

The first Artist in Residence for the SJMQT is Amy Ahlstrom, an urban, pop art quilter. She is unveiling five San Jose-themed quilts at the First Friday Art Walk tonight entitled "Faces & Places of San Jose." She asked people to submit photos of San Jose graffiti, faces, street art, buildings, signage, and she made the quilts based on those photos. Below is a video that explains her process as well as a couple preview photos.

While you are in the museum, there is also a new exhibit called the "California Art Quilt Revolution" which showcases 40 years of Northern Californian quilting history.

The museum will be open late along with the rest of the galleries in SoFA and admission is free for South First Friday. It's a cool museum--make sure to include it in your art walk!

San Jose Metro unemployment is holding below 4%

For the second straight month, unemployment in Silicon Valley has stayed under that magical 4% threshold. It did tick up a tenth of a point from 3.8% in September to 3.9% in October. California is at 5.3% unemployment while the nation is averaging 4.7%. So the net of it is that the nation as a whole is doing quite well, but San Jose is in an exceptional position when it comes to jobs. The rate is even more impressive when you consider we have the highest paying jobs for any large city in the country, if not the world. Now let's find a way to fix those potholes.

Source: SVBJ

#12DaysofArts Social Media Scavenger Hunt (Dec 1 - 12)

#12DaysofArts takes over San Jose
San Jose Art Partners Gifting the City with Holiday Cheer Through Social Media Scavenger Hunt

SAN JOSE, Calif. (Nov. 22, 2016) – For the second consecutive year, San Jose arts partners will give away mystery prizes through a citywide scavenger hunt. From Dec. 1 through Dec. 12, participants can utilize #12DaysOfArts during this social media campaign, to create awareness for the arts in San Jose.

Each day will start anew with a social media clue. Check the Downtown Associations social media daily for directions on where to go; seek out museums, theaters and galleries – search high and low. Go online Dec. 1 to take part and spread the word with, #12DaysofArts. Off you go in search of a mystery prize, to see the arts through a new set of eyes. The first ten players at each location will win, and the next day the hunt starts again.

“We all enjoyed the 12 Days of Arts so much last year that we had to do it again.” Says Sherrill Ingalls, Director of Marketing and Communications at the San Jose Museum of Art. “It’s a fun way for the arts organizations to give back to the people who support the arts downtown year-round and to spread the word about the variety of offerings in San Jose. We hope that people familiar with the San Jose Museum of Art will discover new experiences in theater and music, and vice versa.”

Don’t worry, there will be two grand prizes during this scavenger hunt flurry. Use Twitter and Instagram to post #12DaysofArts, and discover what San Jose holds dear to its heart.

"#12DaysofArts provides everyone with the opportunity to take a timeout from the usual holiday craziness, be inspired and pique our own creative instincts," said Rick Jensen, Communications Director, San Jose Downtown Association. "Enjoy the thrill of the hunt."

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About San Jose Downtown Association
The SJDA is a non-profit, membership-based organization founded in 1986 to represent business and property owners. We make downtown a better place for business, residents and visitors through events, advocacy, marketing and more.

About San Jose Museum of Art
The San Jose Museum of Art celebrates new ideas, stimulates creativity, and inspires connection with every visit. Welcoming and thought provoking, the Museum delights visitors with it’s surprising and playful perspective on the art and artists of our time.

About Team San Jose
Team San Jose (TSJ) is an innovative partnership unifying the San Jose Convention and Visitors Bureau, hotels, arts, labor and venues to deliver an exceptional visitor experience. TSJ manages the San Jose McEnery Convention Center, California Theatre, Center for the Performing Arts, City National Civic, Montgomery Theater, Parkside Hall, and South Hall. For more information, visit www.sanjose.org.

San Jose's NextEV launches fastest electric car in the world

North San Jose is quickly becoming a mecca for electric car companies and the history goes back far. Tesla originally wanted to build their factory in Alviso. Only after they were rejected by the state, did they choose the Fremont location. NextEV and LeEco on the other hand setup their US Headquarters in North San Jose. Access to high-end engineering talent in Silicon Valley and industrial space were no doubt major factors in those decisions.

Last week, NextEV finally pulled back the curtain on their first car. Like Tesla, they are starting with limited-production expensive cars and then creating mass-market vehicles. The NIO EP9 will be the fastest electric car in the world. It can hit 124 MPH in 7.1 seconds and has a top speed of 194 MPH. Range is about 265 miles. The EP9 just set a world record on the Nurburgring, video below. Unfortunately, those specs won't come cheap... the car costs about $1,000,000 (correct number of zeros).

We'll have to see how the less expensive cars in their lineup compete with both traditional car companies and Tesla, but for now you can take some pride in the fact that this is a San Jose company. NextEV is located at 3200 N 1st Street.

Source: Electrek

Why it’s better to work in San Jose than San Francisco

Guest Post by Fabianne Rico

As a professional working in tech in San Jose, something I hear too much from people is that San Jose isn’t considered as part of the “real bay area” compared to places like Oakland and San Francisco.

I even hear this from people I know personally that work in San Francisco who brag about their daily free food and all the cool company events they get to go to.

“Oh, who do you work for in San Jose again? Must be a pretty small company.”

For your information, I work for a mobile design and development agency called Impekable. Even if our company is on the smaller side, our work’s quality and the awards we’ve won speak for themselves. Not to mention we’ve worked with companies like Google, HP, Motorola, and Groupon,to name a few. This is a company I’m proud to work for, and what reinforces this sentiment is we are a San Jose-based company.

Don’t get it twisted. I love SF as much as the next guy. It’s a wonderful hub of culture and activity, and to add onto that, I’m a huge fan of cool breezes and fog. However, the smugness of some people I talk to from this supposed “real bay area” irks me because despite the nice parts, it can be argued that San Jose is actually a better place to work than San Francisco.

Let’s start with one of the more obvious reasons.

Unless you’re legitimately rich enough to afford the price of rent in SF, chances are you’re living somewhere outside the center. Even so, you’ll be looking at rooms for upwards of $1000/mo anywhere north of Santa Clara.

With that, you’ll be living pretty far from your company’s top floor office in the city. Studies show that longer commutes contribute to higher levels of anxiety and a decline in life satisfaction, so make sure you have your favorite podcast prepared because the commute is gonna be looooooong.

Oh, and once you arrive, good luck finding parking. Expect to spend 15-30 minutes on average circling the block to find a space that isn’t occupied by the red and white signs on otherwise usable parking meters. Believe it or not, your SF employer might not even provide parking, so you might be on your own there.

If you have to resort to the lengthy commutes, you’re probably someone who lives closer to Downtown San Jose than San Francisco. Even if you’re more in the north, it’s faster to go against rush hour traffic anyway.

There is more parking in San Jose as well with a good amount of car parks nearby, at a reasonable price. In addition, local employers and work spaces in Downtown San Jose simply buy their employees monthly parking passes to the city’s car parks.

At this point, it’s a given that employees in San Jose have better commutes than San Francisco, but what about the locations they work at?

Unless you work for one of the larger tech companies downtown like Adobe, Oracle, EY, or Accenture, you probably can’t afford a giant SF office. However, another benefit to being based in downtown San Jose is access to the many options for coworking spaces nearby, for every budget.

Whether you’re an up and coming start up or a self-employed individual, it’s always nice to have friends.

NextSpace is the coworking space where our office is located and we enjoy being a part of the community by interacting with other companies in the space during weekly happy hours or walkabout lunch. Being a member of a coworking space provides us with the opportunity to network with other NextSpace companies and even created new business connections for us.

Founders Floor is just down the street from our office, so sometimes we’ll host speaking events and we take some time to appreciate that sweet downtown view! Another coworking space is WeWork that recently opened up on the 6th floor of the nearby Valley Towers in downtown. They have a pretty awesome setup with beer on tap and their trendy interior design, similar to the aesthetic you would see in San Francisco offices, but without any of the hassle.

WeWork San Jose has been an awesome place for us to host our design workshops, so our students interested in starting a career in app design can have a taste of the Silicon Valley dreamer lifestyle. I mean does YOUR classroom have a view like this?

Downtown San Jose is lucky to have so many options as far as where to work, but what options do they have for lunch?

Another huge perk of working downtown is the food! If you have a certain food craving, it’s very likely that it’s very close by with options to choose from like Thai food, Malaysian, Indian, Greek, delicious sandwiches, Halal, Mexican, pizza, Vietnamese, sushi, even Carribean! YOU NAME IT!

All these food options can definitely be credited to the diversity San Jose has to offer. Diversity should be one of the critical reasons why the 7th most diverse city in the United States, San Jose is better to work than San Francisco, which was ranked at 20. For being the so-called capital of Silicon Valley, San Jose is aware that innovation is not a vacuum. It requires exposure to different backgrounds and collaborating with those who come from different walks of life.

As a San Jose based company, we can’t help but take pride in the city we’re in. However, people who work anywhere in the Bay Area are blessed to operate in such a progressive region with a strong sense of community that welcomes innovation and diversity with open arms.

And yes, just in case it wasn’t clear enough, South Bay still counts Bay Area. Cheers.

About the author:

Fabianne Rico is a Marketing Manager for Impekable, a design and development agency that specializes in using the latest technology and trends to create apps that are both useful and usable. Go to Impekable.com for more info.