SAN JOSE — A veteran actual property agency with nationwide attain has purchased the properties that it must launch a dramatic growth that will add an workplace tower and athletic resort to a key website in San Jose.
The Boulevard, because the undertaking known as, is edging nearer to actuality now that developer Cypress Equities has purchased parcels on the southeast nook of Stevens Creek Boulevard and Saratoga Avenue.
The event would complete 295,000 sq. ft, consisting of a 12-story workplace tower of 280,000 sq. ft and an athletic resort and health middle totaling 15,000 sq. ft, in response to Cypress Equities.
During the last 4 years, Cypress Equities has been working with San Jose metropolis officers to craft a growth that will meet the wants of the neighborhood and town.
San Jose seeks to encourage the creation of city villages that will create extra dense workplace and retail websites alongside Stevens Creek Boulevard.
“We couldn't be extra enthusiastic about bringing this unbelievable new growth to town of their new city village plan,” mentioned Chris Maguire, chief govt officer with Cypress Equities.
Cypress Equities intends to launch building someday this summer time, the developer mentioned.
The tower may entice a number of tech corporations, which seem to as soon as once more be out in power looking for new areas to lease or personal as they broaden.
“Improvement on this website has been envisioned on this nook for a while,” mentioned Bob Staedler, principal govt with Silicon Valley Synergy, a land-use consultancy. “It’s thrilling to see it coming nearer to fruition.”
CBRE industrial actual property brokers Mike Grado and Shane McNulty have begun to scout for workplace tenants. Sarah Edwards of SRS Actual Property Companions is looking for retail tenants.
“The undertaking will kick off the primary growth for the Stevens Creek City Village Plan that was accredited by town of San Jose to commercialize the Stevens Creek Blvd hall,” Cypress Equities acknowledged.
One of many key elements of the event can be the athletic resort, which might be a health middle with wide-ranging options and facilities.
“The athletic resort will provide conventional well being and health actions together with group health lessons in addition to private coaching and a mess of household and youngsters’s actions,” in response to a advertising brochure ready by CBRE.
Floor-floor areas for eating places and retailers are additionally anticipated to be a part of the undertaking.
“The event will profit from a half-acre out of doors amenity space, that includes a landscaped plaza,” Cypress Equities mentioned in an e mail to this information group.
A plaza and backyard will sprout proper on the nook of Stevens Creek and Saratoga. Together with the well being membership, an outside health space can be included within the undertaking.
“The structure and concrete design are excellent,” Staedler mentioned. “The open house on the nook is a pleasant contact.”