Friday, September 13, 2013

10-Tower office project proposed for San Jose

Breaking: 10-tower office project proposed for San Jose



Real Estate Reporter- Silicon Valley Business Journal
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In one of the largest development proposals to hit Silicon Valley since Apple's enormous spaceship, legendary builder Peery-Arrillaga has filed preliminary plans to develop two million square feet of office space in North San Jose.
But it remained unclear Friday afternoon whether the Palo Alto-based developer had a tenant in tow and, if so, who it could be.
The project is slated for more than 20 acres at First Street and Brokaw Road near Highway 101, according to documents filed Sept. 5 that I reviewed today at City Hall. On the parcels, owned by Peery-Arrillaga, right now? Bare land and the Bay 101 casino, which is set to move across Highway 101 in a few years.
"I think this is a very real project," Mayor Chuck Reed told me on Friday afternoon. "The papers they've turned in represent a substantial investment of effort to get this far."
The scope is breathtaking, even by Silicon Valley standards: Plans call for 10, seven-story office buildings totaling 2,025,350 square feet with 7,103 parking spaces, mostly below grade. That could house 8,000 workers using very conservative space-planning calculations. Rough math shows the buildings weighing in at about 200,000 square feet each. (For comparison, an average Costco is about 150,000 square feet.)
Cushy amenities disclosed in the plans include an underground pool; basketball, racquetball and squash courts; and a soccer field. Those perks put this squarely in the realm of the high-end tech campus, but no tenant is listed on the document.
Drawings included in the development application show sleek, curved glass-walled buildings set among meandering walkways and lush landscaping. A series of curved, elevated bridges appear to connect the buildings. (View the slideshow to see early renderings for the campus. Story continues below poll.)

Who's going to take Peery-Arrillaga's 2 million-square-foot campus?

Who's going to take Peery-Arrillaga's 2 million-square-foot campus?
Google 17%
Microsoft 11%
Apple 5%
Amazon 13%
Huawei 7%
Peery-Arrillaga doesn't have a tenant 41%
Other (share in the comments) 7%
This survey is not a scientific sampling, but offers a quick view of what readers are thinking.
|View All
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.

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