Santana Row's 500k square foot office expansion

Supersizing Santana Row: Details on 500K square-foot office expansion

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Courtesy of Santana Row

Santana Row's suburban retail allure will be supplemented by more office space.

Nathan Donato-Weinstein

Real Estate Reporter- Silicon Valley Business Journal

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Federal Realty Investment Trust hopes to be under construction on a major, half-million square foot expansion of Santana Row next year, a project that could bring more than 1,000 new jobs to the already bustling mixed-use juggernaut.
The real estate investment trust turned in early planning documents to the city last week for the expansion, which would add 565,000 square feet of commercial space, most of it being office. The rezoning request, which was widely expected, represents a significant step by starting the process for gaining city approvals.
The project comes as the development pipeline for mixed-use and retail projects is growing in Silicon Valley. In Santa Clara, Related California is planning a massive, 80-acre office, retail, hotel and residential project across from Levi's Stadium. An adjacent development from Lowe Enterprise and Joe Montana's Montana Group would add retail, hotel and office. And across the street from Santana Row, owners of the Winchester theaters are seeking a developer to build a mixed-use project on 11 acres.
The 11-year-old Santana Row is already one of the most successful mixed-use projects in the country. It currently boasts 647,000 square feet of retail space, 622 luxury rental homes, a 212-room hotel, a movie theater and 65,000 square feet of office, which is full. Its retail space brings in sales of $600 per square foot, according to Federal Realty.
The expansion plan represents a fulfillment to the project's original vision, said Jeff Berkes, Federal Realty's West Coast region president.
"What we're trying to do is finally complete Santana Row," he said. "We would have been completed at this point, but the recession hit. Now that we're through that, and the economy has improved, it's time to finish off the Row."