Mayor Liccardo and Vice-Mayor Jones Commence the Building of One Santana West, a New 360,000 Square Foot Headquarters-Quality Workspace at Amenity-Rich Santana Row in San Jose.
San Jose (July 30, 2019)— In a ceremony led by San Jose Mayor Sam Liccardo, Vice-Mayor Chappie Jones, and other officials, Federal Realty Investment Trust (NYSE: FRT) today started construction on the newest addition to Santana Row: One Santana West, a 360,000 square foot office building and companion parking garages containing 1,750 parking spaces. One Santana West is the first phase of the up to 1 Million square foot Santana West development adjoining Santana Row, Silicon Valley’s iconic mixed-use neighborhood. One Santana West will be an eight-story, highly efficient workspace at the corner of Winchester Boulevard and Olin Avenue just off of I-280. The state-of-the-art exposed interior concrete design includes floorplates up to 54,000 square feet, modern architecture and headquarters-quality office space, giving One Santana West distinctive design qualities compared to traditional Silicon Valley office buildings. The design features 13-foot clear heights and smooth concrete ceilings, direct access to parking, expansive terraces on the 2nd, 7th, and 8th floors, and an inviting plaza where employees can enjoy lunch, meet friends, and creatively collaborate with colleagues.
Leveraging off its success leasing the 235,000 square foot 500 Santana Row in 2015 and the 319,000 square foot 700 Santana Row in 2018 to Silicon Valley tech innovator Splunk, Federal Realty anticipates strong interest in One Santana West; an “instant campus” for companies like Splunk who care a great deal about their work environment and immediate access to daily amenities. One Santana West is expected to be ready to deliver to tenants in the first quarter of 2021, and the 360,000 square foot adjacent Two Santana West could be ready for delivery in the first quarter of 2022.
“Santana Row’s mixed-use live-work-play environment coupled with its superb Silicon Valley location offer a competitive advantage for recruiting,” said Jan Sweetnam, Executive Vice President – West Coast Chief Operating Officer of Federal Realty Investment Trust. “That’s been evidenced by our experience with companies vying to move into our amenity-rich Santana Row campus over the years. It’s particularly rewarding to see companies excited to move into Santana Row and then have the work environment exceed their expectations. The Santana West office campus continues our vision of creating a thriving, walkable urban village.”
“And unlike the congested Highway 101 corridor,” Sweetnam added, “Santana Row is located directly off of I-280 in close proximity to residential neighborhoods and office parks in San Jose, Palo Alto, Mountain View, Sunnyvale, Cupertino, Santa Clara, and throughout Silicon Valley.”
Added Jeff Berkes, West Coast President for Federal Realty, “Santana Row provides significant advantages in recruitment and retention as well as in employee productivity and satisfaction. We’re designing our office spaces with ample natural daylight, open floorplans and interior design that reflects the absolute best in Silicon Valley workspaces.”
Newmark Knight Frank is the leasing agent for the project. One Santana West is designed by Studios Architecture of San Francisco, and Devcon Construction is the general contractor.
The five-story parking garage, coupled with two floors of below-grade parking at One Santana West, for a total of 1,750 initial parking spaces, will fully meet tenant needs.
Today, Santana Row’s office space is fully leased to international commercial real estate service firms Newmark Knight Frank and Cushman & Wakefield; worldwide IT company Cisco; innovative data analytics firm Splunk; leading apartment REIT AvalonBay Communities; healthcare provider Satellite Healthcare; credit reporting company Experian; and others.
Santana Row also includes 50 shops, 30 restaurants, 9 personal service businesses, 615 rental apartments, 219 residential condominiums and the 215-room boutique Hotel Valencia.
For more information on Santana West visit http://theofficesatsr.com/building/santana-west/.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty’s 105 properties include approximately 3,000 tenants, in approximately 24 million square feet, and over 2,600 residential units.