San Jose (Wedn May 13, 2020) — Federal Realty Investment Trust (NYSE: FRT) today formally re-started construction on the newest addition to Santana Row, the One Santana West 375,000 square-foot office building and companion parking garage. After a weeks-long pause due to coronavirus shut-down orders, this first-phase building of the planned 1 million square-foot Santana West is one of the largest commercial mixed-use developments in Silicon Valley to re-start following the announcement of relaxed restrictions last week. 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.
“We are thrilled to be back underway,” said Jan Sweetnam, Executive Vice President – West Coast Chief Operating Officer of Federal Realty Investment Trust. “The development and construction teams have been working out new systems for health safety and notifying the hundreds of workers who are excited to be getting back to work.”
Devcon Construction, the general contractor, has covid19 protocols in place to follow local and state guidelines for construction, from thorough screening of incoming workers at every shift to ongoing monitoring and onsite precautions.
“Santana West is a unique opportunity for a company to control its environment, in a new, state-of-the-art facility, with easy access to the freeway systems and the privately-maintained, amenity-rich offerings of Santana Row,” said Sweetnam. “There are precious few office options like Santana West available and Federal Realty looks forward to delivering the best of Silicon Valley to companies needing space next year.”
With the pause of construction, One Santana West is expected to be available for first tenant build-outs in July 2021, largely on track after its initial ground-breaking in July 2019.
One Santana West’s unusual exposed interior concrete design includes floorplates up to 54,000 square feet, modern architecture and headquarters-quality office space, giving the project 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.
Newmark Knight Frank is the leasing agent for the project. One Santana West is designed by Studios Architecture of San Francisco.
The five-story parking garage also under construction, coupled with two floors of below-grade parking at One Santana West, together provide a total of 1,750 initial parking spaces to fully meet tenant needs.
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.
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.