Boston Properties Breaks Ground in San Jose on 1.1MM SQFT Platform 16 Development

Boston Properties, San Jose, Platform 16, Bay Area, Diridon Station, Kohn Pedersen Fox Associates, Canada Pension Plan Investment Board, TMG Partners, Valley Oak Partners, CBRE

Mayor Sam Liccardo and Councilmember Raul Peralez will join groundbreaking of 1.1 million square foot Class A creative office development

San Jose, CA— Boston Properties, Inc. (NYSE: BXP), the largest public developer, owner and manager of Class A office properties in the United States, will host the official groundbreaking ceremony for the first phase of the Platform 16 development project in San Jose on Wednesday, March 4, 2020. Mayor Sam Liccardo and Councilmember Raul Peralez will be in attendance to provide remarks on the project’s significance to San Jose and its workforce.

Platform 16 is a 1.1 million square foot Class A creative office development located in downtown San Jose on a 5.4- acre site, adjacent to Google’s planned eight million square foot transit village and Diridon Station, a major Bay Area transportation hub. The urban campus will include three buildings, 16 private outdoor terraces with unobstructed views of the city, two pedestrian plazas for social gatherings and corporate events, and onsite amenities including a large fitness and wellness center, and a café. The development will have immediate access to the adjacent Guadalupe River Park as well as various retail and restaurant amenities. The first phase of the Platform 16 development project consists of an approximately 390,000 net rentable square foot Class A office building and a below-grade parking garage.

“Platform 16 emerges at the intersection of so many important Downtown San Jose assets – the Guadalupe River Park, Mineta San Jose International Airport, the Shark Tank and our central station,” said Mayor Liccardo. “It is the vanguard of a wave of office space that is changing the trajectory of Downtown as Silicon Valley’s urban center.”

The development was designed by world-renowned architect Kohn Pedersen Fox Associates and is a joint venture between Boston Properties and the Canada Pension Plan Investment Board. TMG Partners and Valley Oak Partners are assisting in the development of the property

with Boston Properties. Commercial real estate firm CBRE is seeking tenants for the new campus, which could ultimately employ 7,000 workers across the office complex.

“More leading companies are choosing to call Downtown San Jose home because of our world- class facilities and access to transportation,” said District 3 Councilmember Peralez. “Platform 16 will be vital for the future growth of the region and will make District 3 an even better place to live and work.”

Boston Properties has decades of experience developing innovative office space for the Bay Area’s top companies, including San Francisco’s new icon, Salesforce Tower, 680 Folsom, 535 Mission and 611 Gateway in South San Francisco.

“We are looking forward to expanding our presence in the South Bay,” said Bob Pester, Executive Vice President at Boston Properties. “San Jose is at the heart of the region’s innovation and growth, and we are proud to support the needs of the business community and the exceptionally talented workforce that reside here.”

Boston Properties holds a 55 percent majority stake in Platform 16 and, once completed, will manage leasing, property management and development services. The Canada Pension Plan Investment Board holds the remaining 45 percent. The first phase of construction is expected to be completed in 2023.

About Boston Properties

Boston Properties (NYSE: BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 52.0 million square feet and 196 properties, including 11 properties under construction.

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