SAN JOSE — A veteran actual property agency with a nationwide attain has purchased the properties that it must launch a dramatic growth that may 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 whole 410,000 sq. ft, consisting of an workplace tower of 300,000 sq. ft and an athletic resort and health heart totaling 110,000 sq. ft, in response to Cypress Equities.
Over the past 4 years, Cypress Equities has been working with San Jose metropolis officers to craft a growth that may meet the wants of the neighborhood and the town.
San Jose seeks to encourage the creation of city villages that may create extra dense workplace and retail websites alongside Stevens Creek Boulevard.
“We couldn’t be extra enthusiastic about bringing this unimaginable new growth to the Metropolis of their new city village plan,” mentioned Chris Maguire, chief government officer with Cypress Equities.
Cypress Equities intends to launch development someday this summer season, the developer said.
The tower might entice a number of tech corporations, which seem to as soon as once more be out in power in search of new areas to lease or personal as they increase.
“Improvement on this website has been envisioned on this nook for a while,” mentioned Bob Staedler, principal government 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 in search of retail tenants.
“The undertaking will kick off the primary growth for the Stevens Creek City Village Plan that was accredited by the town of San Jose to commercialize the Stevens Creek Blvd hall,” Cypress Equities said.
One of many key parts of the event can be an athletic resort, which might be a health heart with wide-ranging options and facilities.
“The athletic resort will supply conventional well being and health actions together with group health courses in addition to private coaching and a large number of household and youngsters’s actions,” in response to a advertising and marketing brochure ready by CBRE, a industrial actual property agency.
The event will even embrace ground-floor areas for eating places and outlets.
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 will probably be included within the undertaking.
“The structure and concrete design are very good,” Staedler mentioned. “The open house on the nook is a pleasant contact.”