Sprawling Office Development Plan Submitted for San Jose by Local Real Estate Gurus
- Sep 11, 2013
By Alex Girda, Associate Editor
San Jose, the largest city in the booming Silicon Valley region, is set to receive an ambitious office project after local development team Peery Arillaga submitted plans for a massive development initiative. The large amount of appeal brought to the area by the rapidly growing tech market could help in backing the company’s new proposal.
As Apple continues work on its spaceship-like HQ in Cupertino, and Google continues its shopping spree for both office space and housing in Mountain View, and other major Silicon Valley tech names such as Facebook and LinkedIn continue their respective expansions, Peery Arillaga looks to be poised for success with the new project.
The developer submitted plans for a sprawling 2 million square-foot office project to be built in North San Jose. The development would occupy a 20-acre site at First Street and Brokaw Road, the San Francisco Business Times writes.
With the Kenneth Rodrigues & Partners-designed project set to be able to accommodate about 9,000 employees, according to industry estimates, it is as of yet unclear whether Peery Arillaga is keeping a major anchor tenant a secret or not. However, with cost estimates at around $400 million for the project, according to The Herald Online, the developer will look to make the investment pay off in the most dynamic tech market of the U.S.
As coverage of the project goes on and the necessary permits are secured, the project will most likely be one of the most high-profile ventures in the area. Considering the vast experience of developers Richard Peery and John Arillaga, the project will also be intensely scrutinized by other developers, also looking to cash in on the area’s seemingly unstoppable appeal.