Hunter Storm Pays $34MM for Additional Land Next to Its Burgeoning Coleman Highline Campus

By Vladimir Bosanac

On the heels of announcing the first lease at its 1.5-million-square-foot, Gensler-designed Coleman Highline project in San Jose, Cupertino-based Hunter Storm took additional land next to the development earlier this month for $33,968,500, according to public records. While plans for the additional land have not been announced, yet, the move signals the developer’s faith in proximate opportunities.

The company is already underway developing the first phase of the project, a 357,000 square-foot development that includes two buildings, a five-story, 162,000 square foot building, and a second one, which will have six stories and 195,000 square feet of office space. Following this, phases two and three will bring an additional 1.178 million square feet of space across four buildings. The project will also deliver three parking structures and a surface parking lot for a total of 4,954 vehicles. The development brochure also shows two additional buildings that can be added to the development, presumably as demand for the project and the area continues to grow.

The project is right next to San Jose’s Mineta International Airport, although the surrounding area offers a number of amenities—walking distance to the Santa Clara Caltrain station, which will also receive BART trains in the future; it is next to the Avaya Stadium and just blocks from Santa Clara University and many hospitality and retail amenities.

And the developers got some good news recently when they announced in January of 2018 that cloud communications and customer engagement firm, 8×8 will be the first tenant in the development, taking the 162,000-square-foot structure where it will locate its headquarters.

“This is a very exciting time for 8×8. We have been rapidly expanding our global customer base particularly in the midmarket and enterprise sector while hiring the industry’s top talent to join us in our next phase of market leadership,” said Vikram Verma, CEO at 8×8, Inc. in a statement. “The new 8×8 headquarters demonstrates our commitment to grow our operations in San Jose and deliver a world-class experience for our employees, partners and customers who help accelerate our global growth strategy.”

Leasing efforts on the development are led by the CBRE’s Silicon Valley team led by Mike Benevento, senior vice president, Jeff Houston, vice chairman, and Mike Charters, senior vice president.

West Coast Commercial Real Estate News