San Jose Downtown Real Estate Tour 2014
SPEAKING NOTES
Welcome to the DT Tour…as you may have noticed in our marketing efforts for this event, San
Jose was listed by the Urban Land Institute as one of the top three emerging real estate markets
in the country of the 51 metro areas surveyed. Why San Jose ranked in the top three for
investment, development and home building:
 Current Population: Approximately 1,000,000
 Echo Boomers (Millennials): 21.9% of the population is comprised of people between
the ages of 20-34, highly educated; prefer metro markets, not interested in home
ownership, and prefer the flexibility of renting as much as they do the portability of their
work environment and their jobs.
 Tech Companies Downtown: There are 100+ tech companies downtown! Since
August 2013, there have been 32 completed leases by tech companies in 229,900 sf.
 Employment – The Silicon Valley added 21,000 jobs since the beginning of 2014
 Gross Metro Product per Capita – San Jose ranks 1st in the country in this category
with its GMP per capita ratio of 1.46 compared to a national GMP per capita ratio of 1.00
Metro Area Education Ranking – 2nd highest # of college educated graduates in the
country, only behind Washington DC, in a survey done by Forbes Magazine dated May
30, 2012.
 #1 best places to work! In Glassdoor’s second annual Employment Satisfaction Report
Card, the City of San Jose ranked #1. Supply Constrained: San Jose is a mature land
constrained area with high barriers to entry.
Starting Point: **TOUR START – SAN JOSE MCENERY CONVENTION CENTER
Buses park in bus unloading zone on right before San Carlos Street light/Hilton Hotel

San Jose McEnery Convention Center: In 2010, the City, Team San Jose, and the
hotel community campaigned and won the creation of Community Facilities District,
which added an additional 4% for Transient Occupancy Tax (TOT). This created a $130
million dollar expansion and renovation project.
More than 370,000 attendees use the convention center annually, generating an overall
economic impact of more than $80 million a year. The facility currently has 143,000 sf of
exhibit space and more than 40 meeting rooms, including the new 35,000 sf Grand
Ballroom – the largest premiere event space in Silicon Valley.
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Boston Properties: The parking lot adjacent to 303 Almaden (Rockwood Capital and
Four Corners) is owned by Boston Properties who has previously proposed an office
complex (3 buildings) which could contain as much as 840,000 sf of office and ground
floor retail space.
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303 Almaden Blvd. (Property #3 and page 4 of the Tour Book): Owned by
Rockwood Capital in partnership with Four Corners Property. 11 floor Class A office,
on-site fitness center with showers, management office, and Grace’s Café.
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Center for Performing Arts: On the left is the “CPA” -- designed by the Frank Lloyd
Wright Foundation. This 2,667-seat facility hosts Ballet San Jose and Broadway San
Jose. The CPA is one of four downtown theaters managed by the community-based
group Team San Jose (Civic, Montgomery, California, CPA). Recent production of
Wicked broke San Jose CPA records.
Rose Property (200 Park Avenue): (On your right boarded up at corner of Park)
Rumors abound regarding the property on your right from luxury high rise condos to the
most recent rumor of a mid-rise office building. Can you imagine anything here less than
a tower?
While on Almaden Blvd mention San Jose Downtown Association Streetlife
Activation plan and possible exercise loop.
Left on Park Towards 87
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Adobe: Adobe’s world-wide headquarters. Adobe’s third tower in their downtown
corporate campus added approximately 269,000 sf of office space, and contributed 2,300
employees to their workforce.
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River Park Towers I and II (Properties #7 & #8 and pages 8-9 of the Tour Book):
Riverpark owner, Legacy Partners one of our tour Sponsors, completed significant
upgrades in 2007 to Riverpark Tower I including remodeled common areas, elevator
landings and restrooms.
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Tower I is a 16-story 303,876 sf Class A building with on-site management and
leasing office, on-site fitness center, covered parking and Paolo’s Restaurant on
the ground floor. Current asking rent $2.95 PSF FS
Tower II completed in 2009, 16 story Class A, LEED Gold building. Recently
signed two leases with Xactly Corporation for the top 3 floors and Intacct
Corporation for an additional 3 floors for a total of 118,410. Pan Pacific Bank
private client branch is located on the ground floor. Amenities include showers
and lockers, conference center with 28 & 12 person meeting rooms, outdoor
collaborative area with fire pit and much more.
Take 87 North after Adobe and River Park Towers to Taylor Street Exit
Exit Taylor Street, turn left on Taylor Street (light)
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San Jose Municipal Rose Garden: 5½ acres a one-time prune orchard, now devoted to
shrubs of the rose family and features over 4,000 rose shrubs with 189 varieties
represented. Hybrid–teas comprise 75% of the plantings. Groundbreaking took place
April 7, 1931, and six years later, on April 7, 1937, the Rose Garden was officially
dedicated.
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Guadalupe River Park: The trail extends from Alviso to Downtown San Jose making
for a great 9 mile path for bikers and runners. Once fully developed it will extend about
20 miles and link the San Francisco Bay to South San Jose.
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Guadalupe Community Garden: Opened in 2008. Consists of many raised garden
beds. Garden uses recycled water as the main source for irrigation. This is the only
garden to have a demonstration garden by the Santa Clara Master Gardeners.
Right on Coleman Avenue (light)
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Public Soccer Fields (Behind the Stadium running along the rail line): A new $12
Million facility with 4 public soccer fields, a multipurpose building, a picnic area and
parking is scheduled to open in 2015. Estimated capacity is said to be in excess of 240
players and spectators combined
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Coleman Highline Development (North of the Soccer Stadium): Hunter Properties in
conjunction with their partners are currently in design review for Phase I of their 1.5
million sf planned office/R&D project on their 45 acre site, adjacent to the San Jose
Earthquakes Stadium. Phase I will include approximately 360,000 sf of Class A office
space in two buildings. Plans for future phases include a 150 room hotel in addition to the
planned office. The project boasts much sought after direct access to Caltrain at Santa
Clara Station. The design is inspired by the Highline park project located in the Chelsea
neighborhood of Manhattan.
Left at Newhall
**STOP and tour Earthquakes Stadium** (Buses turn on Newhall, entrance on right
behind Stadium)
***Buses can park next to the Earthquakes trailer
Earthquakes Stadium: The San Jose/Silicon Valley area has the most youth and adult
soccer participants in the nation, by far. Soccer is the world’s game and San Jose is the
most diverse community in the Country.
Today, we will be one of the first to tour the new 18,000-seat San Jose Earthquakes
Stadium. The stadium is set to open in 2015 for the 2015 MLS season. The stadium
offers the most up-close, intimate proximity to players and the pitch in the MLS. Once
onsite, check out the ground-level suites, locker rooms and notice how seats incorporate
the team’s brand blue colors. The random placement of red in the seats, apparently spell
out a message in Braille. With construction nearing completion, let’s allow the onsite
Quake guides to give us an up-close and personal tour.
Note: due to ongoing construction, we will tour groups of 25 people at a time. As you
wait, the Quakes portable store will be open and they have waters and granola bars
on-hand. You will also be required to fill out a release form upon arrival. Thank you
for your cooperation.
After Exiting Earthquakes facility, go right on Coleman Avenue to South Market Street
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Coleman Landing: The retail center was recently completed and is anchored by Lowe’s
Home Improvement. Other significant tenants include City Sports (LA Fitness) with
over 5,000 members, (the facility includes a basketball court and three racquetball courts
in addition to spinning classes and a large aerobics room) Staples, In ‘n Out, Chipotle,
and Starbucks. New tenant’s to locate in the last building pad include:
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San Jose Market Center: Built in 2006, is approximately a 220,000 sf retail center with
over 30 tenants including Target, Cost Plus, World Market, PetCo, Staples, Marshalls,
Trader Joe’s. BJ’s Brewery opened last year after razing the former Chevy’s restaurant,
and according to sources close to BJ’s this store is exceeding their projected sales by
double digits.
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Rose Garden Children’s Park (under construction on your Left): The $6 million
Rotary Children’s Playgarden will enable children with special needs to play alongside
their siblings and friends. The project will be completed in late fall and will be
maintained by Guadalupe River Park Conservancy via volunteers, in-kind donations, and
fee-for-service contracts. There will also be after school and weekend programs in the
Playgarden for children with special needs.
Continue on South Market Street (over bridge)
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San Pedro Square Residences (on your right at Julian): 10-acre site. Current
programming includes 590 apartments, 78 townhomes and upwards of an additional 360
condominiums. To be built in phases by several developers including Barry Swenson
Builders in partnership with MCM and First Community Housing. The project will
include the realignment of Julian and the reconstitution of a block grid system. Current
timing for the street realignment is spring 2015.
Left on St. James
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Santa Clara Family Justice Center (under construction on your left): Will replace 6
leased facilities and consolidate all family-related services of the Superior Court of Santa
Clara County to this one location. Estimated cost of $240.7 million, 234,000 sf for a 20courtroom courthouse.
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Park View Towers: A high-rise development project currently proposed by Barry
Swenson Builders. The project will include 243 residential units housed in 2 towers;
25,000 sf of ground floor retail, and will involve a restoration of the Church of Christ
Science building located on the site. The development team is still deciding on condo or
rental units for the project. Currently the project is undergoing entitlements
Right on Second Street (Bus should slow to a crawl if possible)
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Park Maintenance District: In June, the City Council approved the exploration of a
Park Maintenance District to provide long-term funding for the maintenance and upkeep
of all downtown parks. The funding would come from parkland fees on high-rise and
mid-rise developments in the downtown core with 50% of high-rise and 75% of mid-rise
development monies earmarked for parks capital funding (due at certificate of
occupancy) and the remaining 50% of high-rise and 25% of mid-rise development fees
being paid over time and going toward parks maintenance.
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St. James Park: St. James Park and its environs were the heart of 19th century San Jose.
Plotted by Chester Lyman in his 1848 survey, the park evolved over the next half century
as the focus of many of San Jose’s most important civic and religious buildings. It
occupies just under seven acres in the core.
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In the years following the official survey, the park served a variety of purposes but
remained un-landscaped until 1868. With the building of what is now Santa Clara County
Courthouse, the park came of age as a grand public open space. A major landscaping plan
was developed by noted architect Fredrick Law Olmsted and the square became known
as St. James Park.
Throughout the late 19th century and early 20th century, the park took on increasing
importance. Major public and private buildings – the Post Office, several churches, club
and lodge headquarters – were built along its perimeter and it became a site for public
gatherings and demonstrations. California’s last lynching occurred here in 1933.
Monuments commemorate speeches made here by President William McKinley and
Senator Robert Kennedy, both assassinated shortly after their visits to San Jose.
In 1955, the character of the park was altered when it was bisected by North Second
Street. In 1977, the park was placed on the National Register of Historic Places.
Recently a significant effort has been undertaken by the city and downtown stakeholders
to reinvigorate this downtown gem. Efforts have been focused on increased activation,
improved park maintenance, enhanced security via park rangers and SJPD and expanded
social service delivery.
There are current discussions regarding the addition of a Levitt Pavilion amphitheater to
the park as a possible way to active the park. The City, San Jose Downtown Association
and residents began an activation plan for the short-term…”Summer in St. James Park.”
This short-term project brought thousands of people to the park. In the coming months
all parties will begin long-term plans for the park.
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Downtown Doors: An outdoor youth art exhibit and competition. Celebrating its 11th
anniversary in 2014. Art selected from San Jose high school and middle school youth,
many from San Jose’s eastside, is enlarged, placed on decals and installed on blank utility
doors and boxes in the downtown core. There are currently 91 downtown doors and
utility boxes on display. This year the program went international with artwork selected
from students in five of San Jose’s seven sister cities in Ireland, Taiwan, Japan, and Costa
Rica and unveiled at the International Sister Cities Convention held in San Jose in late
July.
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Marshall Squares Property (on your right behind Trinity Cathedral): Fairfield
Residential has proposed a seven story 195 unit apartment project on this site with
funding in place to start construction upon receipt of building permits in early 2015.
Fairfield worked with the City and Trinity Cathedral to design a project that embraces its
neighbors and maintains the integrity of the surrounding uses.
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Legacy Civic Towers (Properties 20 & 21 and pages 22 & 23 of the Tour Book): The
Mercury News moved their news division and editorial staff back to downtown San Jose
earlier this summer and occupy 33,186 sf on two floors in the project.
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Ground floor tenants at 75 E. Santa Clara include:
 Ike’s Place – They are located on the hard corner in approximately 2,400
sf. Ike’s is more than just a “sandwich” shop that is known for its creative
combinations, large portions (two meals in one) with sandwiches named
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for local sports figures and local institutions. They are highly popular with
college students, and high-tech workers.
ISO Beers – Took the balance of the vacant space that you see at the
corner. ISO Beers is a retail artisan and craft beer and ale store.
Legacy Partners completed an $8M renovation to reposition this 420K sf
two tower project in 2008. Improvements include upgraded lobbies,
elevators, restrooms, a new courtyard, and expanded ground floor retail
space.
Left on Santa Clara
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City Hall: With 18 stories and 1,800 employees this project is meeting its original
intention of consolidating city services and spurring downtown development eastward.
With a daytime population of 3,000, and a beautiful dome rotunda that is booked 7 days a
week for public events from weddings to fundraisers, this new “headquarters” has made a
big impact. Designed by world-renowned architect Richard Meyer (who designed the
Getty Museum in LA). Total: 530,000 sf.
Right on South Fourth Street (light)
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Flames – 4th Street Garage: 750 public parking spaces, 22,000 sf of retail space and a
public banquet facility on the top floor that was developed in partnership with the San
Jose Rotary Club. Retail tenants: Kaleid Gallery, San Jose Credit Union and Flames
Diner.
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Martin Luther King Junior Library: 475,000 sf. It is the first joint use library shared
by a major university (San Jose State University) and a large city. The library houses
over 1.5 million volumes, seats more than 3500 people and receives over 2 million
visitors each year. It provides 40 group study rooms and 300 public access computers as
well as computer classrooms for librarians to teach information literacy to both SJSU
students and the general public. Wifi is available throughout the building. Access to
hundreds of general and academic research databases is available to library visitors.
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101 San Fernando Apartments (on right): 323 apartment units and 9,900 sf of retail
developed by Forest City Development
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So who are the buyers and renters downtown? for Paseo Plaza
 68% of Buyers Under 40 (77% Single)
 24% of Buyers Over 55 (48% couples, 20% paid cash)
 Gender: 57% Male, 43% Female
 Average Educational Level is Master’s Degree
Right on San Fernando (light)
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Safeway “The Market”: Is Safeway’s urban prototype store in approximately 23,000 sf
includes an artisan style bakery with fresh baked breads, Signature Café Deli and
Catering, Tully’s Coffee Bar, and a full line of grocery items, fresh produce, and a wide
selection of wine in their liquor department.
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Downtown Restaurants & Entertainment Venues: 2nd street tenants, Loft Bar and
Bistro, San Jose Bar & Grill, Tres Gringos and the restaurant row along San Fernando
Street create a lively dining enclave.
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The 88: This 22-story tower is the first phase of a $276 million project developed by
CIM Group with Wilson Meany Sullivan. The first phase tower includes 197 units with
268 residential parking spaces, as well as 338 public parking spaces
Phase Two – Timing TBD is entitled for a 23 story tower containing approximately 204
condominiums and 312 residential parking spaces.
Left on Second Street (light)
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Safeway “The Market”: Is Safeway’s urban prototype store in approximately 23,000 sf
includes an artisan style bakery with fresh baked breads, Signature Café Deli and
Catering, Tully’s Coffee Bar, and a full line of grocery items, fresh produce, and a wide
selection of wine in their liquor department.
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Repertory Theater: In 1995, the San Jose Redevelopment Agency and the San Jose
Repertory Theatre (founded in 1980) joined forces to give San Jose’s premiere theatre
company a permanent home. The agency contributed $28.5 million toward building the
new theater, and the theater company raised $3.2 million. The theatre was since
rededicated as The Susan and Phil Hammer Theatre Center. With the loss of the Rep
operator earlier this year, the City is now working with the arts community, Team San
Jose and others on long-term solutions and opportunities. In the near-term, the City and
SJDA will be activating the space for a Holiday Pop-Up Retail program.
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Downtown Pavilion: Opened as a specialty retail mall in the early 90’s and has since
transitioned into a mixed-use office/retail development, with AboveNet leasing the
interior space, and the perimeter dedicated to retail tenants including Bally Fitness,
Johnny Rockets, House of Siam, Quiznos, Tandoori Oven, Baja Fresh and Starbucks.
Purchased in 2005 by Global Innovation, now “Digital Realty” for $36.5 million.
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Camera Three Theatres: This 3-screen venue shows both independent and first-run
movies and is home to the popular Psycho Donuts. The Cameras is the primary host of
Cinequest Film Festival, one of the top 10 film festivals worldwide.
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The Tech Shop: 17,000 sf facility with onsite parking. A community based workshop
and prototyping studio promoting access to the tools of innovation. It is packed with
cutting-edge tools, equipment, and computers loaded with design software featuring the
Autodesk Design Suite. Most importantly, it offers the space to make, and the support
and camaraderie of a community of makers.
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Valley Title Property: 2.83 acres with 2.18 acres of parking, this site has long been
considered for a high rise mixed use project.
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City Lights Theatre (on Second Street, just before Notre Dame High School): City
Lights Theater Company creates provocative live productions that engage, inspire, and
challenge audiences. Founded in 1982 City Lights Theater Company is a non-profit
organization, producing seasons of six plays a year in its intimate 100-seat venue. The
company is committed to presenting exhilarating, thought-provoking plays. They are
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definitely one of downtown’s hidden gems. If you haven’t yet caught one of their
performances you are missing out on a real treat. 
Notre Dame High School: Notre Dame High School is the oldest private secondary
school for young women in California and a partner with the City of San Jose since 1851.
In 1999 a capital development program was announced to provide funds for a new 34,000
sf classroom building that incorporated the latest facilities for science and technology
education, as well as a larger, modern library and up-to-date classrooms. The 2012
seniors were the 161st class to graduate from the high school.
Right on Reed Street
First right on South First Street (SoFA District) – Stop on right in loading zone
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The Pierce (Try to stop at light so you can see project): Sares Regis in conjunction
with Steinberg Architects is developing 240 residential units on the 2.17 acre site. The
seven-story project will include 9400 sf of street front retail along Market. And an
exciting piece of the city’s Illuminations light project ($750,000 ArtPlace grant) called
VOXEL CLOUD by Brian Brush, which will shine from the rooftop along Pierce Street
and be visible from Interstate 280, helping to mark the southern gateway into
Downtown. Construction started in summer 2014 with 2016 completion.
NOTE: in the event someone asks what ArtPlace is: ArtPlace, an initiative of 11 of
America’s top foundations – including Bloomberg Philanthropies, and the Ford,
James Irvine, John S. and James L. Knight, Kresge, and Rockefeller foundations –
working in conjunction with the National Endowment for the Arts and seven federal
agencies.
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CORE COMPANIES DEVELOPMENT (Enterprise car lot): Core Companies,
which is based in SoFA, has announced to the SoFA businesses that its plans for the
Enterprise Car lot are just about ready to be submitted, and hopes to get started on
development of 100+ condominium units to be sold at market rate.
Stop along South First towards William Street if possible
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Gore Park: Activation of this “park” is a work in progress. 1st ACT Silicon Valley
received a $500,000 grant in 2011 to transform Gore park into an "outdoor living room
for the arts." 1stACT worked with community partners to develop the park into an urban
plaza that will serve as an arts destination. The park will connect the four arts groups
facing the park – MACLA, The San Jose Museum of Quilts and Textiles, the San Jose
Institute of Contemporary Arts and San Jose Stage. This year, ArtPlace granted MACLA
another $750,000 for a number of projects: one of them including a shade structure in
this park, and another the development of portable “tiendas” which can serve a number of
purposes, including pop-up retail. Both are being designed by artist Teddy
Cruz. Another part of this latest grant is a way-finding system being coordinated by
MACLA and ZeroOne.
Also of Note: Third Space Fitness is ready to open in a building formerly occupied by
Metro Newspapers, which is moving into its own building further up the street. SoFA is
trending toward fitness. Already has a climbing gym, martial arts center and yoga place.
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SOFA – South of First Area: Located at the southern end of downtown. SoFA is an
arts and entertainment hub and ground zero for the growing late night gallery
crawl, South First Fridays every first Friday of the month. The San Jose Downtown
Association’s SoFA District Committee, community arts organizations and the city have
invested a significant amount of resources in a public/private partnership to help SoFA
continue to evolve its art district identity and urban.
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SJICA: (560 S. 1st) The San Jose Institute of Contemporary Art features innovative
visual arts exhibitions and educational programs. The ICA represents the technical and
cultural diversity of the region.
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Museum of Quilts & Textiles: The first museum of its kind in the United States, and the
only California museum dedicated to promoting the art, craft, and history of quilts and
textiles.
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MACLA: A contemporary Latino Arts space featuring everything from poetry, to Aztec
dance to visual arts.
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California Theatre: The California Theatre opened in 1927 as a vaudeville and film
house, but closed its doors 30 years ago. It re-opened ten years ago, after more than five
years of reconstruction and restoration. The California Theatre is one of the region’s
most important performance facilities. The 1,122 seat theatre is home to Opera San Jose
and the Silicon Valley Symphony.
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New Retail Notes:
 Café Stritch formerly Eulipia Restaurant
 First to Market American restaurant is a Farm to Table concept
 Orchestria Palm Court Cafe (around the corner on William Street) has good food
and a collection of old-fashioned orchestrias all in working order.
 AEDIS Architecture has moved upstairs and into the Prussia Building, and is
landlord of the SoFA Market below.
 Already open are Vero’s Espresso, and Falafel Bar.
 Coming soon are the signature Fountainhead Bar, and a ramen house. AEDIS
principal Thang Do is looking for 7-10 tenants, a la a smaller version of the San
Pedro Square Market concept. San Pedro Square Market co-owner and developer
Martin Menne said in a recent interview that he is flattered that they are trying to
model the concept that begins its fourth year this month.
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SLIDING DOOR: The chief tenant at 360 Residences
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360 Residences: 213 units fully leased at rents from $2.50 - $3.00 NNN Per Square Foot.
Originally developed by MESA Development out of Chicago. Changed hands from
Kennedy Wilson, Inc. to Capri Capital Partners LLC out of Chicago in Spring 2012.
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EVENTS: The businesses work together on South First Fridays, but also SoFA Supper
Club (food trucks and programing at Gore Park), the return of SoFA Street Fair, C2SV
(Creative Convergence Silicon Valley). They co-promote - dining and theater,
communicate and support one another on social media, offer art markets or free yoga in
public spaces -- a tightening community.
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Continue on South First Street (past San Carlos Street)
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Four Points by Sheraton: Formerly the Montgomery Hotel originally constructed in
1911. Hotel was revamped in 2004. There are 234 guestrooms and suites as well as
nearly 7,000 sf of flexible meeting/banquet space.
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Retail Profile:
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1.43 Million Square Feet in the Downtown
Over 223 Eating Establishments
Over 70 Retailers
Over 45 Retail Services
More than 40 Cultural Entertainment Venues
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Fairmont Annex – In February 2002, The Fairmont San Jose opened the Fairmont
Tower and welcomed the addition of 264 new rooms, bringing the total number of rooms
to 805. Additional 17,000 sf of retail space including the newly opened MUJI Japanese
home good retail store - 7,000 sf flagship store. Second location on the West Coast.
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Twohy: Historic building on the right was converted by CIM group into 36, 1x1
residential lofts which are fully leased.
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50 West San Fernando Street (on your left) (Property #9 and page 10 of the tour
book): Acquired and renovated by CBRE Global Investors in 2013 Now fully remodeled
lobby includes a more modern feel with various natural wood and stone features, new
lighting, and centralized security desk. A large fitness center is planned for the 18th floor
above the Capital Club along with an on-site state of the art conference facility. As part
of CBRE Global Investors pool of properties 50 West will offer concierge services to the
tenants; i.e. event planning support, travel and dining reservations, tickets and discounts
to area events, lunch & learns, and annual scholarship competition and philanthropic
opportunities. Additional amenities include: ATM and banking services, Café with
courtyard seating, laundry drop-off services, car wash, valet parking, and Wifi in
common areas
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Crescent Building: URM project. New retail tenants – Billy Berks, part of the Max’s
Restaurant group and Mezcal Restaurant and Bar which has exceptional MOLE!
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Security Building: Nemea Greek Taverna opened in March 2013. The food is
excellent. Try the maple martini if you are sitting at the bar. The Greek Lemon Soup and
the Charred Octopus Salad are excellent.
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SPUR (San Francisco Planning and Urban Renewal) On the right – San Jose Office:
SPUR San Jose launched in January 2012. They are located at 76 South First Street.
Their goal is to promote good planning and good government in San Jose through
research, education and advocacy. They approach this work by bringing together a broad
spectrum of people who share interests in urbanism to work on the most important issues
and opportunities facing northern California's largest city.
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Historic District: We are within the 2.5 blocks that comprise a National Register
Historic District. The collection of historic buildings in this area lends significant
character and a pedestrian scale to San Jose’s urban core – and creates a main-street
ambiance for retail and restaurateurs, which include Nemea Greek Restaurant, 55 South,
C.R.E.A.M, Paper Plane, Café Eden, Koji Sake Lounge, K.zzang, Cabritos, Good Karma
Vegan Café and more. Not to mention a growing craft brew scene with Original Gravity
Pub House and ISO beers to open in late summer.
Left on East Santa Clara Street (light)
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Mitchell Block: This site was acquired by VTA as a staging site for the BART
construction, with eventual development following the completion of BART. Measure B
was passed in 2010. Funds from this measure provided operating costs for the BART
expansion from Fremont to San Jose.
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BART: $4.7 billion plan to extend the 21.7 miles from Fremont through Milpitas to
Downtown San Jose. Will build 5-mile tunnel beneath Santa Clara Street with two
proposed stops in Downtown - City Hall/SJSU/Market St., and Diridon Station. Possible
opening in 2024. Projected weekday ridership is over 110,000 by year 2030. City and
VTA working cooperatively to support land uses that will enhance the uses for BART
and promote a more livable and safe community.
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San Jose-Silicon Valley Chamber of Commerce: Relocated from South First Street.
New façade in partnership with Redevelopment Agency.
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One South Market: (On your right at corner of Market and Santa Clara) KT Properties
in conjunction with Essex Properties (George Marcus) have topped off their 23 story 312
unit project with hopes of delivering units to the market in late 2015 for lease. There is
6,000 sf of retail on Santa Clara Street.
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84 West Santa Clara (Property #26 and page 28 of the Tour Book): The newest
tenant, The Glass House is an event space in 12,000 sf on the ground floor. They just had
their grand opening last Thursday, October 23rd! They have 3 lounges, 2 dining areas and
the largest outdoor patio in downtown. They can handle events from 50-1200 people.
First left on South Market Street (light)
**STOP in front of 55 South Market Street on right**
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55 S. Market Street now being dubbed Tower 55 (Property #16 and page 18 of the
Tour Book): In 2013 the building completed a full redesign and remodel of the common
area and lobby. The lobby cured a number of issues including the elimination of the wind
tunnel effect of the former lobby entrance in addition to creating separate secure
entrances for the IRS located on the ground floor and the rest of the building tenants. The
lobby also helps make a statement at the corner and changes the character of the property.
Perhaps we might just stop saying the Gold Building?
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60 S. Market Street now being dubbed 60 SOMA (Property#5 and page 6 of the
Tour Book): The property was sold in late 2013 to Harvest Properties who are in the
middle of completing a major remodel of the lobby (round two) including the addition of
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a fitness center on the ground floor with showers and lockers. Harvest is pushing rates on
this building from $2.85 to $3.10 PSF full service with variable pricing based on suite
location in the building.
Continue on South Market Street
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Fairmont: The Fairmont San Jose opened its doors as the first luxury hotel in the Silicon
Valley in October 1987. Tenants: Tova Day Spa and Bijan Cafe. Fairmont Annex:
McCormick & Schmick Seafood Restaurant, Bijan Bakery and Muji.
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Cesar Chavez Park: The oldest continuously used public open space in San Jose.
Home of City Hall until its demolition in 1958. Dedicated to Cesar E. Chavez in 1993.
Called “the living room of San Jose” this park hosts many outdoor events throughout the
year, which attract hundreds of thousands of people – including Music in the Park, the
Jazz Festival and Christmas in Park.
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City View Plaza (Properties #17 & #18 pages 19 & 20 of the tour book): City View
Plaza recently completed its multi-million dollar renovation in 2008. This Morton’s
location is one of the highest grossing locations in their U.S. portfolio. A visit to
downtown’s after hours options is not complete without a visit to Scott’s outdoor patio
offering food and cocktail service with great views of Plaza de Cesar Chavez
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Tech Museum of Innovation: This hands-on museum on the right is dedicated to how
technology works. The Tech is one of California’s most popular destinations with an
estimated 650,000 visitors a year. Designed by Mexico City-based architect Ricardo
Legorreta, the Tech includes an IMAX Dome Theater, theme galleries, a retail store, and
café.
Right on San Carlos Street
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Montgomery Theatre: This theatre has had its sound system completely re-engineered
and upgraded. This is continuing the pattern of investment in our existing and historic
medium-sized venues to accommodate the demand for venues that provide more intimate
settings.
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The Sainte Claire Hotel: Recently purchased by Lew Wolff of Wolff Development for
approximately $17 million (Co-owner of A’s Athletics and Earthquakes Soccer Team and
advocate for San Jose A’s stadium), the hotel features 171 guestrooms and is designated
as a National Register Historic Landmark and is a member of the prestigious Historic
Hotels of America, exhibiting the largest privately owned art collection.
Total Downtown Hotel Rooms = 2,333
Occupancy Rate
71% (2014)
Average Room Rate $160
(2014)
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Marriott Hotel: Opened in April 2003. Has 506 rooms, including 28 luxury suites.
Home to “Arcadia” – a Michael Mina (of “Aqua” fame) restaurant in partnership with
Andre Agassi.
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Civic Auditorium: Through Team San Jose’s partnerships in the entertainment industry,
this facility received a significant infrastructure upgrade to transform it into a Fillmorequality concert and convention venue. Partnering with Nederlander Concerts and City
National Bank, the City has entered into a $1.3 Naming Rights Deal for the Civic. Since
the renovation, a number of popular artists have performed in the new facility including
Yanni, Il Divo, Chicago, Tears for Fears, Snow Patrol and Fiona Apple.
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Legacy at Museum Park: 117 boutique-style units including live/work lofts.
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Delmas Park Teachers’ Housing: This project illustrates how high-density (150 units
per acre), mixed-use, infill projects can be done on small parcels, and in unlikely places,
and still respect the adjoining neighborhood. Completed in January 2007, this mixed use
development features 123 teacher rental units and 5,000 sf of ground floor retail. The
apartments wrap around a core of parking that is topped by a sixth-level, open-air
courtyard. Developer is CORE Development and EHC Life Builders.
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OSH: Completed construction earlier this year on a 48,000 sf prototype neighborhood
hardware store. OSH is planning to raze the original structure and build additional retail.
Continue on San Carlos
Left on Sunol
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Fairfield Residential (on the left): Fairfield Residential has proposed 315 residential
units on a 4.73 acres site with dedication of a small park on approximately a half acre.
The project will include approximately 13,000 sf of commercial offices space plus 2,690
sf of retail space and restaurant space of 4,700 sf located at the hard corner. The project
steps down from 7 stories along the San Carlos edge to 5 stories along the interface
between the Fairfield project and that of KB Home’s Cannery project. The developer is
currently in site development process with the planning commission.
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The Ohlone (on right): (corner of W. San Carlos and Sunol Street, former VTA site) A
Joint venture project between Barry Swenson Builders and Republic Urban Properties for
a Transit-oriented, 8.25 acre, mixed-use, development projected to include 800
residential units and up to 12,500-square-feet of retail space plus a four acre park located
next door. The buildings will have a maximum height of 150 feet. This project has been
in various stages of entitlements for the past five years.
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Cannery Square at Monte Vista Condos: Former Del Monte Cannery. 235 two and
three bedroom condos built in 2008 by KB Homes.
Right on Auzerais
Left on Race Street
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Mosaic Apartments: 242 for rent apartments by Sobrato Development. Transit-oriented
development. Smoke free and pet friendly. Other amenities include: pool and spa, a
fitness center with yoga studio, digital theater, business center, and a community lounge
to accommodate up to 50 people.
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Right on Parkmoor
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Elements Apartments: 242 for rent apartments also by Sobrato Development. Transit
oriented development. Amenities include: Fitness center, pool, spa, sun terrace, Digital
Theater, Business Center and Community Lounge to accommodate up to 30 people, plus
Wifi in common areas.
Right on Meridian
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Midtown Plaza: Completed in 2004. Features 233 for sale condos. Developer was KB
Home and this was their first high density residential podium style development. The
project was so successful; KB Home is duplicating the project wherever possible.
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Crescent Parc Townhomes: Completed in 2002. 63 for-sale townhomes. Developer is
Green Valley Corporation.
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Parkview Family and Senior Apartments: Completed in 1998-1999. 140 for rent
senior units and 90 family units developed by EAH Housing. The apartments have direct
access to the Safeway.
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Meridian @ Midtown: (1400 W. San Carlos, corner of West San Carlos and Meridian
Avenue) Republic Urban Properties is building a mixed used development consisting
of 218 For Rent housing units and more than 14,000 sf of retail space on this 3.5 acre
site. Units will consist of studio, and one and two bedrooms. Projected completion for
September 2014.
Right on San Carlos
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West San Carlos: West San Carlos serves as the major thoroughfare from Valley Fair
and Santana Row to downtown San Jose. This cool and funky neighborhood business
district comprised of trendy clothing and antique shops, services, and auto dealers. The
area experienced a surge of new rental and for-sale housing with an additional 1,000 units
planned to come on line starting this year. The neighborhood is named after famed
horticulturist Luther Burbank (creator of the Shasta daisy), and was home to the Del
Monte fruit packing company for many decades.
Left on Race Street
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Notes: Race Street Seafood Kitchen, Habana Cuba
Right on The Alameda
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Alameda Business District: Known as the Rose Garden and The Grand Boulevard, this
section of State Highway 82 is one of San Jose’s popular neighborhood districts offering
a pleasant pedestrian-friendly experience. Future street enhancements through “The
Alameda - A Plan for the Beautiful Way” plan will be coming on-line through a $3M+
Metropolitan Transportation Commission grant secured by The Alameda Business
Association, City of San Jose and Redevelopment Agency. The Alameda experienced a
surge of housing within the past twenty years. Retail chains have made their way to the
neighborhood complimenting the local, independently owned neighborhood serving
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businesses. Income levels exceed $500,000 with homes values well into the $1Ms at the
peak.
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Race and The Alameda – New restaurants “FreeB!rds World Burritos” opened in 2012
added to the mix…long standing Greenlee’s Bakery – home of the local famous
cinnamon bread -- Café Rosalina, Rosie’s New York, Pasta Pomodoro and Peet’s Coffee
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Avalon on The Alameda: A mixed-use rental housing development with 218 units
developed by Avalon Bay Communities.

955 The Alameda: 9,400 sf neighborhood retail strip center including Chipotle – its first
location in the greater Downtown San Jose area.
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The Lofts on The Alameda: This 40-unit project was development by Green Valley
Corporation and constructed by Barry Swenson Builder in September 2005.

Whole Foods: Whole Foods Grand Opening is set for December 10th! The design
includes a 27,000 sf store with a separate 5,600 sf two-story brewery building and a
rooftop beer garden. (This has been a featured project on this tour for seven years and we
can finally say it's really happening.) This will be the second Whole Foods location in
San Jose.

Plant 51: Originally built in 1913 as a cannery, Plant 51 includes 265 for-sale loft and
flats. Initially developed by Centex, then completed by Corona Land Company.

Diridon Station and Baseball: The City is still waiting to hear from MLB!!! However,
the City is working with VTA and Caltrain on a possible Master Plan and RFI for joint
development of the site. Think LA Live or Kansas City Power and Light District.

Proposed A’s Stadium: Former Redevelopment Agency acquired most of the 14 acres
between Park Avenue and San Fernando Streets for the proposed “A’s” Stadium.

Diridon Station: Diridon Station, the restored historic train depot formerly known as the
Cahill Station, is a regional transit hub
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Caltrain running from Morgan Hill to San Francisco,
Amtrak,
“ACE” the Altamont Commuter Express train to/from Stockton,
Capitol Corridor train to/from Sacramento,
County Buses,
Vasona Light Rail service began on October 1, 2005
Future BART from Fremont, and potentially,
Greyhound, and High Speed Rail.
The “DASH” (free) shuttle transports people arriving at Diridon to various stops
in the downtown.
San Jose Arena/SAP Center: The 15+ year home of the San Jose Sharks the Sabercats
(indoor football), the SAP Open, and Bay Area Lacrosse. The “shark tank” can hold over
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22,000 people on game day and features 24 luxury boxes. The Arena hosts over 200
event days a year.
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The San Jose Water Company Property: Total of 6.7 acres purchased by Adobe for
$32.5M with future plans to expand its headquarters to this site. Property equipped with
City development rights for a million sf of offices, 325 high-rise condos and 65,000 sf of
shops.

Proposed AC Hotel (on right): Vacant Lot at off ramp to 87 at Santa Clara, there is a 9
story proposed AC hotel with 167 rooms. AC hotels is a Hyatt flagged property with
roots in Europe. The hotels are very cutting edge.

De Anza Hotel: 10-story, 100 room historic Hotel De Anza opened its doors in 1931,
after being construction by Case Swenson for a cost of $505,000. In the 1970’s the hotel
lost its luster and deteriorated and was almost torn down. Restoration was completed in
1990 by Saratoga Capital, with San Jose Redevelopment Agency assistance for historic
rehabilitation at a cost of $10M. Just recently the hotel was sold by Saratoga Capital to
Lowe Enterprises – a Southern California-based development firm for an undisclosed
sum, thought to be upwards of $20M. CBRE’s hotel division represented the seller.
Destination Hotels, a Lowe affiliate, will take over hotel management but continue to
operate it as an independent boutique hotel.

225 West Santa Clara Street (Property #10 and page 11 of the tour book): Class A
348,754 sf office tower. Originally developed by OPUS, acquired by EOP in 2003, and
then sold to Principal Global Investors in December 2013. Tenants include Deloitte,
CBRE, Amici’s and Umpqua Bank who took 7,506 sf for their new regional
office/branch location.

Former Los Gatos Brewing Company Site: The AFK Gamer Lounge is currently under
construction. The AFK Gamer Lounge, consists of a 15,000 sf of bar, restaurant and
"gamer" space. It aims to be a major entrainment hot spot for the region. AFK is a place
for gamers to meet, compete, and enjoy all things related to eSports – and if you're 21+
you can do it all with a beer in hand. Currently the space is under construction with an
opening expected for early 2015.
Farmer’s Union Bar: The Farmer's Union opened in 2013 as a restaurant and bar in the
location where the original Farmers' Union was established in 1874 and was a one-stop
shop for the agricultural families in then-tiny San Jose. Decorated with historical
references of San Jose, The Farmers Union vision is that of an upscale gastropub meets
sports bar, offering honest ingredient-driven urban alehouse cuisine, as well as an
impressive 51 beers on tap
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160 W. Santa Clara (Property #1 and page 2 of tour book): A 15-story Class A office
tower purchased in a joint venture by Angelo Gordon and DiNapoli Capital Partners at
the end of 2012. The building underwent extensive remodeling in 2010 which included
the lobbies, common areas and the addition of a fitness center with showers and lockers.
KBM Furniture who has been in San Jose since 1946, relocated here in 2011.The
project has additional land behind the building that recently was approved (Site
Development Permit) for a 21story 182 unit apartment project.
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8 North San Pedro Street: Meacham Oppenheimer (formerly the Anaconda Hotel)
invested a significant amount to renovate the building in partnership with the
Redevelopment Agency who helped finance the façade renovations.
Left on San Pedro Street

San Pedro Square: Downtown San Jose's historic dining and entertainment district.
With its antique archway and Euro-style patio dining, San Pedro Square offers more than
25 restaurants and bar options. Hot spot for pre-concert and sporting events at the SAP
Center.
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Mill Creek: On the parking lot site adjacent to Spaghetti Factory, Mill Creek is
proposing to build approximately 225 residential units in a mid-rise structure of 5-7
stories.
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Farm Fresh Fridays: Is celebrating its 22nd season this year. Farm Fresh Fridays takes
place on San Pedro Street, from May through November every Friday, 10 a.m. to 2 p.m.
The Farmers Market is highly anticipated by local employees each year. Fresh locally
grown produce, fruit, artisanal foods, cheeses, and other locally produced goods from
more than 30 vendors.
Left on St. John
**TOUR STOP Centerra**
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SAN PEDRO PUBLIC MARKET on St. John Street (facing west)
Buses park on north side of St. John Street between North San Pedro Street and Terraine
Street
www.sanpedrosquaremarket.com
Opened in October of 2011, San Pedro Market is a 25,000 sf public market in three
different buildings wrapped around the historic Peralta Adobe. It has become a key
amenity for companies looking to locate downtown and a regional destination. The
market features 25 businesses, 15 eateries and 6 bar and beverage purveyors, as well as
an old-school single-chair barber shop, hand-crafted artisan boutique and gift shop. The
Market hosts live music, trivia and numerous special and corporate events on a weekly
basis.
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Centerra High-Rise Housing Development: Under Construction 21-story, 347-unit
apartment tower is set to start construction by early summer. They are going for a
traditional-modern hybrid more along the lines of a wedding-cake skyscraper. The design
has been called “timeless and a little Bostonian”. Parking will be on the first few floors
in the middle and the rentable space will wrap around it. 7,000 sf of retail. 80 percent of
the units will be one or two bedrooms with a few junior one-bedrooms, three-bedrooms,
and lofts. The average size is 935 sf. Amenities include a pool, hot tub, doggie zone,
kitchen area, and multiple outdoor areas. There will also be a gym and ground-floor bike
shop/storage area. The project is being developed by Simeon Partners (Mike Kim –
former BRE Properties Development Manager) with Barry Swenson Builders as the
project contractor.
**Board back on Buses to Finish Tour**
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Go straight on West St. John Street
Left on Santa Teresa Street

Axis: 358 for-sale high-rise condominiums was undoubtedly the first luxury condo
project built in downtown. The project was originally developed by KT Properties in
conjunction with Spring Resources.
Straight onto Almaden
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10 Almaden (Property #2 and page 3 of the tour book): Is a premier 17-story Class A
office building totaling 309,225 sf. The project has had incredible leasing activity over
the past year with Apigee taking 40,656 sf, and Loring Ward Financial taking 42,610 sf
rounding out a solid tenant base that includes MalewareBytes, Robert Half, Berliner
Cohen, Move.com, Rosetta Marketing, and Focus Bank, among others. The project was
fully renovated in 2013 with upgraded finishes, fitness center including outdoor pool with
sauna, showers and lockers. LEED Gold certified. Was the first building in Silicon
Valley to have the state of the art touchpad system Destination Dispatch elevators.
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Almaden Financial Plaza (Properties #13, 14, and 15 and pages 15-17 of the tour
book): The project has recently added new amenities such as Fitness Center with lockers
& showers, a shared Conference Facility, Two (2) Outdoor Collaborative Areas and onsite café. This property is currently owned by Embarcadero Capital Partners and
managed by Embarcadero Realty Services.
Left on West San Carlos Street
Right on San Fernando
**End Tour at Convention Center**
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Downtown Office Fun Facts Since our last tour in May 2013:
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Downtown is now home to over 110 tech related companies
150 plus office transactions downtown in 17 months
233,897 sf of new tech tenants in downtown
Avg. size of tech tenant deals over the past 17 months – 7,300 sf
7 Quarters in a row of positive net absorption
Total net absorption since our last tour 457,660 sf
Current availability rate is 18.39% versus 25.43%
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