Major Renovation and Addition Includes Curated Tenant Mix, Building Upgrades and Remaking of Common Areas
CAMPBELL, Calif.–The Pruneyard has long been a diamond-in-the-rough, but with the start of a major renovation, it is poised to be the jewel of Silicon Valley. The construction of this multi-phase project is commencing this month following a groundbreaking ceremony on Wednesday, January 18 at 10 am.
The first phase comprises a series of dramatic improvements to transform The Pruneyard into an active and connected urban village. The Pruneyard’s Main Street and Plaza will be reimagined into a town square framed by new and updated retail and a host of dining options. Pedestrian walkways will improve circulation through the center and offer better connectivity between the center and the office towers, hotel and parking. Additional amenities will include new landscaping, way-finding and monument signage, as well as comfortable seating and gathering places throughout the property. The Plaza will also incorporate a multi-purpose raised platform that can be used for seating or be activated for entertainment, events and programming.
In 2014, Ellis Partners purchased The Pruneyard, a 27-acre mixed-use shopping center for $280 million, which includes 365,000 square feet of Class A office space, 253,000 square feet of retail and restaurants, and a 170-room DoubleTree Hotel by Hilton. Located at East Campbell and South Bascom avenues, The Pruneyard had not been updated for nearly 20 years, but Ellis Partners saw something shining amidst the outdated facades.
“We have been working for two years on a reimagined tenant mix that will compliment many of our longstanding retailers and introduce new, unique and authentic concepts to The Pruneyard. This effort will redefine and elevate The Pruneyard’s shopping, dining and entertainment experience to better match what shoppers in the South Bay want to see,” says Jim Ellis, co-founder and managing principal of Ellis Partners, owner of The Pruneyard. “We are committed to creating a collection of retail and restaurant offerings that will not only better serve the Campbell community, but also transform The Pruneyard into a vibrant regional destination.”
The Pruneyard will be home to a robust new selection of innovative, new-to-the-market dining concepts including the first Northern California Burger Lounge, a popular fast-casual restaurant featuring grass-fed burgers and organic salads, and Mendocino Farms, an artisan sandwich market known for sourcing seasonal ingredients from local farmers and for creating a friendly vibe where customers feel like family and “eat happy”. Tin Pot Creamery, the small-batch organic ice-cream shop co-founded by former Facebook pastry chef, Becky Sunseri, will open its first South Bay location at The Pruneyard, as will Lulu’s, a family-run taqueria offering fresh, authentic Mexican fare. Asian Box will introduce its “farm-to-box” Asian street food to the Campbell community. As part of the main Plaza reconstruction, The Pruneyard will add a stunning jewel-box building for Peet’s Coffee & Tea that will frame this new central part of the property. Peet’s will offer both indoor and outdoor café seating.
New retailers joining the mix include Blossom Nail Spa, a full-service nail salon, and Books Inc., the West’s oldest independent bookstore with 11 locations in California and more than 200 employees — a shining example that independent bookselling can survive and prosper.
The Pruneyard is investing in and updating a number of its existing restaurant and retail tenants. Trudy’s Brides & Special Occasions, a 40-plus-year tenant and an institution in the Bay Area for weddings and formal affairs, just completed a 12-month extensive remodel that added more floor space including a spacious second level. Camera 7 Cinemas will be refurbished with leather recliner seating and a new restaurant and bar that will offer in-theatre dining. Movies will be presented in state-of-the-art Sony 4K Projection and Dolby Surround Sound. And, Trader Joe’s has made a long-term commitment to the community with its plans to remodel and expand its long-standing store by about 15 percent.
Additionally, The Pruneyard just completed a major renovation of the property’s DoubleTree Hotel by Hilton. Interior enhancements and new guest amenities include a remodeled lobby, refreshed corridors, the addition of dining services – with the launch of PY Kitchen & Wine Bar – and a 1,700-square-foot fitness center. Top-to-bottom exterior improvements feature new landscaping, updated plazas and inviting public spaces, furnishings around the pool patios as well as a new roof and paint.
“We have a strong track record of taking on challenging mixed-use projects,” says Melinda Ellis Evers, co-founder and managing principal of Ellis Partners. “We see great potential in The Pruneyard that parallels what we saw in Town & Country Village prior to our successful transformation of that Palo Alto icon. The Pruneyard has a rich history and we are proud to have the opportunity to shepherd this treasured community asset through its evolution.”
Following the completion of phase one of construction, plans to revitalize the rest of the center include construction of up to four new retail buildings with between 35,000- to 50,000-square-feet of new space, a 100,000-square-foot, five-story office building and 680 additional parking spaces.
Adding to the draw of the new and improved center, The Pruneyard will activate a series of events and experiences for the public, beginning in 2018.
About Ellis Partners
Ellis Partners is a privately owned commercial real estate investment and development company founded in San Francisco in 1993. Working with a small group of long-standing private and institutional partners, the firm has successfully acquired and developed assets valued at over $2.5 billion. Ellis Partners has a long track record of success in the acquisition, entitlement, development, renovation and repositioning of office, industrial, retail, residential and mixed-use properties in Northern California. Drawing upon the decades of experience of its principals, partners and the skill sets of the Ellis Partners team, the company has been able to identify unique real estate investment opportunities, produce exceptional investment performance and provide lasting impacts on the tenants and communities it serves. For more information, visit ellispartners.com.