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{{Infobox building |
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{{New unreviewed article|source=ArticleWizard|date=August 2010}} |
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| building_name = Sobrato Office Tower |
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| image = Sobrato Office Tower.jpg |
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| caption = |
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| former_name = |
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| location = 488 Almaden Boulevard <br>[[San Jose, California]] |
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| coordinates = {{coord|37.3272|-121.8891|region:US-CA_type:landmark|display=title,inline}} |
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| groundbreaking_date = Fall 2000<ref>{{cite web|title=Sobrato Office Tower|publisher=[[San Jose Redevelopment Agency]]|date=January 20, 2009|access-date=July 4, 2018|url=http://www.sjredevelopment.org/ProjectGallery/SobratoOfficeTowerFacts.pdf|format=PDF}}</ref> |
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| completion_date = Winter 2002<ref>{{cite news|title=PwC to move into downtown San Jose’s Sobrato Building|first=Eli|last=Segall|work=[[Silicon Valley Business Journal]]|publisher=American City Business Journals|date=November 18, 2010|access-date=July 4, 2018|url=https://www.bizjournals.com/sanjose/news/2010/11/18/pwc-move-into-downtown-san-jose-sobrato.html}}</ref> |
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| status = Complete |
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| building_type = Commercial offices |
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| architectural_style = [[Modern architecture|Postmodern]] |
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| antenna_spire = |
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| roof = {{convert|85.3|m|abbr=on}} |
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| top_floor = |
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| floor_count = 17<br>3 below ground |
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| room_count = |
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| unit_count = |
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| elevator_count = |
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| cost = |
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| floor_area = {{convert|116,200|m2|abbr=on}} |
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| architect = Korth Sunseri Hagey Architects |
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| engineer = |
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| main_contractor = |
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| developer = |
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| owner = |
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| management = |
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| references = <ref>{{Cite web |url=https://www.emporis.com/buildings/138037 |archive-url=https://web.archive.org/web/20160325225543/https://www.emporis.com/buildings/138037 |url-status=usurped |archive-date=March 25, 2016 |title=Emporis building ID 138037 |work=[[Emporis]]}}</ref><ref>{{SkyscraperPage|10215}}</ref><ref>{{Structurae|20021514}}</ref> |
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}} |
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'''Sobrato Office Tower''' is a 17-story, [[Office#Grading|class-A office building]] located at 488 Almaden Boulevard in [[San Jose, California]].<ref> |
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'''Sobrato Tower''' is a 17-story, 388,000 square foot<ref>http://www.squarefeetblog.com/commercial-real-estate-blog/2009/02/23/oracle-tower-going-sony/</ref> Class A<ref>http://sanjose.bizjournals.com/sanjose/stories/2006/12/25/story1.html</ref> [[Office_building#Office_buildings | office building]] at 488 Almaden Boulevard in San Jose, California. It is the third tallest building in the city, in terms of measured height<ref>http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_San_Jose</ref>. Since being built in 2002 by the Sobrato Organization, it has remained unoccupied<ref>http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231</ref>. Sobrato sold the building for $135 million to [[BEA Systems]] in 2007<ref>http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231</ref>, which itself was bought by [[Oracle]]<ref>http://money.cnn.com/2008/01/16/news/companies/oracle/?postversion=2008011608</ref>, the building's present owner. |
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{{cite news | author=Staff writers | title=Oracle Tower Going Sony? | url=http://www.squarefeetblog.com/commercial-real-estate-blog/2009/02/23/oracle-tower-going-sony/ | work=Square Feet Commercial Real Estate Blog | date=23 February 2009| access-date=1 August 2012}}</ref><ref>{{cite news | title=Sobrato-BEA in talks | url=http://sanjose.bizjournals.com/sanjose/stories/2006/12/25/story1.html | work=The San Jose Business Journal | access-date=1 July 2012}}</ref> It is the [[List of tallest buildings in San Jose|fourth tallest]] building in the city. The building was completed in 2002 by the Sobrato Organization and remained unoccupied for nine years.<ref name="bizjournals1">{{cite news | author=Katherine Conrad | title=Deal near on downtown San Jose's biggest vacancy | url=http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231 | work=The Silicon Valley / San Jose Business Journal | date=July 18, 2010 | access-date=1 August 2012}}</ref> Sobrato sold the building for $135 million to [[BEA Systems]] in 2007, which was itself later purchased by the building's present owner, [[Oracle Corporation|Oracle]].<ref name="bizjournals1"/><ref>{{cite news | author=Aaron Smith | title=Oracle, BEA Systems in $8.5B software merger | url=https://money.cnn.com/2008/01/16/news/companies/oracle/?postversion=2008011608 | work=CNNMoney | date=January 16, 2008 | access-date=1 August 2012}}</ref> |
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Shortly after its headquarters moved to [[Austin, Texas|Austin]] from [[Redwood Shores]], in 2021, [[Oracle Corporation|Oracle]] sold off its [[San Jose, California|San Jose]] tower for $155 million, making a profit of nearly $20 million over the course of its 13 year ownership. |
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==History== |
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| ⚫ | Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million by 2011.<ref>[http://www.mercurynews.com/bay-area-news/ci_15919345?source=rss San Jose Redevelopment Agency once again in the fiscal soup - San Jose Mercury News]. Mercurynews.com. Retrieved on 2011-05-30.</ref> |
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| ⚫ | At different times, the City of San Jose, [[Nvidia]], [[Sony]], and [[BEA Systems|BEA]] were each noted publicly to be negotiating to lease space in the building but none of those reported negotiations resulted in a tenancy.<ref>{{cite news | author=Katherine Conrad | title=Long-empty San Jose tower is possible home of Big Four tenant | url=http://sanjose.bizjournals.com/sanjose/stories/2010/03/01/story2.html | work=The Silicon Valley / San Jose Business Journal | date=February 28, 2010 | access-date=1 August 2012}}</ref> |
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| ⚫ | Criticism of the building and possible reasons for its inability to attract tenants have often focused on its location being too far from downtown San Jose<ref>http://www.squarefeetblog.com/commercial-real-estate-blog/2008/08/19/legacy-partners-drops-sobrato-oracle-bea-tower-deal/ |
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| ⚫ | Criticism of the building and possible reasons for its inability to attract tenants have often focused on its location being too far from downtown San Jose.<ref name="bizjournals1"/><ref>{{cite news | title=Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal | url=http://www.squarefeetblog.com/commercial-real-estate-blog/2008/08/19/legacy-partners-drops-sobrato-oracle-bea-tower-deal/ | work=Square Feet Commercial Real Estate Blog | date=19 August 2008| access-date=1 August 2012}}</ref> |
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| ⚫ | On November 17, 2010, it was announced that [[PricewaterhouseCoopers]] would lease {{convert|209000|sqft|m2}} on eight floors (levels 10-17) of the tower beginning June 2011, thus leaving their {{convert|165,000|ft2|abbr=on}} 10 Almaden Boulevard location in San Jose.<ref>{{cite news |title = At last, a tenant in downtown San Jose's Sobrato tower|url = http://www.mercurynews.com/top-stories/ci_16642004|work = San Jose Mercury News}} </ref> |
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== References == |
== References == |
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<!--- See [[Wikipedia:Footnotes]] on how to create references using <ref></ref> tags which will then appear here automatically --> |
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{{Reflist}} |
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* [http://www.sobrato.com Sobrato Organization] |
* [http://www.sobrato.com Sobrato Organization] |
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<!--- Categories ---> |
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[[Category:Office buildings completed in 2002]] |
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{{coord missing|United States}} |
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Latest revision as of 18:34, 26 August 2024
| Sobrato Office Tower | |
|---|---|
 | |
 | |
| General information | |
| Status | Completed |
| Type | Commercial offices |
| Architectural style | Postmodern |
| Location | 488 Almaden Boulevard San Jose, California |
| Coordinates | 37°19′38″N 121°53′21″W / 37.3272°N 121.8891°W |
| Groundbreaking | Fall 2000[1] |
| Completed | Winter 2002[2] |
| Height | |
| Roof | 85.3 m (280 ft) |
| Technical details | |
| Floor count | 17 3 below ground |
| Floor area | 116,200 m2 (1,251,000 sq ft) |
| Design and construction | |
| Architect(s) | Korth Sunseri Hagey Architects |
| References | |
| [3][4][5] | |
Sobrato Office Tower is a 17-story, class-A office building located at 488 Almaden Boulevard in San Jose, California.[6][7] It is the fourth tallest building in the city. The building was completed in 2002 by the Sobrato Organization and remained unoccupied for nine years.[8] Sobrato sold the building for $135 million to BEA Systems in 2007, which was itself later purchased by the building's present owner, Oracle.[8][9]
Shortly after its headquarters moved to Austin from Redwood Shores, in 2021, Oracle sold off its San Jose tower for $155 million, making a profit of nearly $20 million over the course of its 13 year ownership.
History
[edit]Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million by 2011.[10]
At different times, the City of San Jose, Nvidia, Sony, and BEA were each noted publicly to be negotiating to lease space in the building but none of those reported negotiations resulted in a tenancy.[11]
Criticism of the building and possible reasons for its inability to attract tenants have often focused on its location being too far from downtown San Jose.[8][12]
On November 17, 2010, it was announced that PricewaterhouseCoopers would lease 209,000 square feet (19,400 m2) on eight floors (levels 10-17) of the tower beginning June 2011, thus leaving their 165,000 sq ft (15,300 m2) 10 Almaden Boulevard location in San Jose.[13]
References
[edit]- ^ "Sobrato Office Tower" (PDF). San Jose Redevelopment Agency. January 20, 2009. Retrieved July 4, 2018.
- ^ Segall, Eli (November 18, 2010). "PwC to move into downtown San Jose's Sobrato Building". Silicon Valley Business Journal. American City Business Journals. Retrieved July 4, 2018.
- ^ "Emporis building ID 138037". Emporis. Archived from the original on March 25, 2016.
- ^ "Sobrato Office Tower". SkyscraperPage.
- ^ Sobrato Office Tower at Structurae
- ^ Staff writers (23 February 2009). "Oracle Tower Going Sony?". Square Feet Commercial Real Estate Blog. Retrieved 1 August 2012.
- ^ "Sobrato-BEA in talks". The San Jose Business Journal. Retrieved 1 July 2012.
- ^ a b c Katherine Conrad (July 18, 2010). "Deal near on downtown San Jose's biggest vacancy". The Silicon Valley / San Jose Business Journal. Retrieved 1 August 2012.
- ^ Aaron Smith (January 16, 2008). "Oracle, BEA Systems in $8.5B software merger". CNNMoney. Retrieved 1 August 2012.
- ^ San Jose Redevelopment Agency once again in the fiscal soup - San Jose Mercury News. Mercurynews.com. Retrieved on 2011-05-30.
- ^ Katherine Conrad (February 28, 2010). "Long-empty San Jose tower is possible home of Big Four tenant". The Silicon Valley / San Jose Business Journal. Retrieved 1 August 2012.
- ^ "Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal". Square Feet Commercial Real Estate Blog. 19 August 2008. Retrieved 1 August 2012.
- ^ "At last, a tenant in downtown San Jose's Sobrato tower". San Jose Mercury News.