SAN JOSE, Calif. (Sep. 6, 2017) – Grosvenor Americas (Grosvenor), one of four operating companies of the privately-owned international property group, Grosvenor Group, announced today that Bank of America, a tenant at its Class A, LEED® Gold Silicon Valley office property 560 South Winchester, has signed a lease expansion for the first, third, fifth, and sixth floors – totaling more than 60,000 square feet. Bank of America is occupying the first floor and will begin its new lease expansion on November 1 of this year.
“It’s a win-win for us and Bank of America, who has called our building its regional ‘home’ for nearly 14 years, to now consolidate its operations here” said Grosvenor’s senior vice president of investment Mark Purdy. “560 South Winchester’s modern interiors, central location, and immediate access to the robust offerings at Santana Row make it an ideal location for its expanded workforce here.”
“Bank of America has deep roots in San Jose. It is the birthplace of our founder, A.P. Giannini, and the city where he opened some of our earliest branches. San Jose continues to be an important growth market for us,” said Raquel González, Bank of America’s Silicon Valley Market President. “We are excited to expand our tenancy at 560 South Winchester and co-locate our business teams to better collaborate and serve clients, while ensuring responsible growth for our company.”
The company has announced a number of similar consolidations across the country in the last two years.
Erik Hallgrimson and Steve Horton, both with Cushman & Wakefield, brokered the Bank of America lease agreement on behalf of Grosvenor.
Built in 2001 and purchased by Grosvenor, in 2013, the 99,124-square-foot property provides excellent visibility and direct access to I-280, which connects San Jose with Cupertino, Palo Alto, and San Francisco. Located on the same block as the vibrant mixed-use community of Santana Row, it is also close to I-880 and Highway 17, which serve areas to the east and south. The building is fully leased to Bank of America/Merrill Lynch Wealth Management, Trend Micro Incorporated, and Vectra Networks, Inc.
Grosvenor’s other San Francisco Bay Area office assets include 180, 185, and 251 Post Street, 394 Pacific Avenue, and 240 Stockton Street.
About Grosvenor Americas
Grosvenor Americas aims to become a market leader in select geographical areas and sectors in Canada and the USA through focused, strategic expansion. Grosvenor Americas uses their knowledge of the cities they work in and their property skills to develop projects that contribute to the vibrancy and attractiveness of those communities. With particular interest in retail, residential condominiums and apartments, and mixed-use sectors, the Company currently operates in Washington, D.C., Seattle, San Francisco, Los Angeles, Vancouver and Calgary. As at 31 December 2016, Grosvenor Americas had assets under management of C$4.6bn. Learn more at www.grosvenor.com or follow them on Twitter, @GrosvenorAmer.
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including 23 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.