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Coordinates: 37°19′38″N 121°53′21″W / 37.3272°N 121.8891°W / 37.3272; -121.8891
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{{Infobox building
{{Orphan|date=January 2011}}
| building_name = Sobrato Office Tower
⚫
'''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/ Oracle Tower Going Sony? | Square Feet Commercial Real Estate Blog]. Squarefeetblog.com (2009-02-23). Retrieved on 2011-05-30.</ref> Class A<ref>[http://sanjose.bizjournals.com/sanjose/stories/2006/12/25/story1.html Sobrato-BEA in talks | Silicon Valley / San Jose Business Journal]. Sanjose.bizjournals.com. Retrieved on 2011-05-30.</ref> [[Office building#Office buildings|office building]] at 488 Almaden Boulevard in [[San Jose, California]]. It is the [[List of tallest buildings in San Jose|third tallest]] building in the city. Since being built in 2002 by the Sobrato Organization, it has remained unoccupied<ref name="bizjournals1">[http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231 Deal near on downtown San Jose's biggest vacancy | Silicon Valley / San Jose Business Journal]. Sanjose.bizjournals.com. Retrieved on 2011-05-30.</ref>. Sobrato sold the building for $135 million to [[BEA Systems]] in 2007<ref name="bizjournals1"/>, which itself was bought by [[Oracle]]<ref>[http://money.cnn.com/2008/01/16/news/companies/oracle/?postversion=2008011608 Oracle, BEA Systems in $8.5B software merger - Jan. 16, 2008]. Money.cnn.com (2008-01-16). Retrieved on 2011-05-30.</ref>, the building's present owner.
| image = Sobrato Office Tower.jpg
| caption =
| former_name =
| location = 488 Almaden Boulevard <br>[[San Jose, California]]
| coordinates = {{coord|37.3272|-121.8891|region:US-CA_type:landmark|display=title,inline}}
| 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>
| 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>
| status = Complete
| building_type = Commercial offices
| architectural_style = [[Modern architecture|Postmodern]]
| antenna_spire =
| roof = {{convert|85.3|m|abbr=on}}
| top_floor =
| floor_count = 17<br>3 below ground
| room_count =
| unit_count =
| elevator_count =
| cost =
| floor_area = {{convert|116,200|m2|abbr=on}}
| architect = Korth Sunseri Hagey Architects
| engineer =
| main_contractor =
| developer =
| owner =
| management =
| 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>
}}


'''Sobrato Office Tower''' is a 17-story, [[Office#Grading|class-A office building]] located at 488 Almaden Boulevard in [[San Jose, California]].<ref>
⚫
Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million<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>.
⚫
{{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>


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.
⚫
At different times, the City of San Jose, [[Nvidia]], [[Sony]], and BEA itself were each noted publicly to be negotiating to lease space in the building<ref>[http://sanjose.bizjournals.com/sanjose/stories/2010/03/01/story2.html Long-empty San Jose tower is possible home of Big Four tenant | Silicon Valley / San Jose Business Journal]. Sanjose.bizjournals.com. Retrieved on 2011-05-30.</ref>, but none of those reported negotiations resulted in a tenancy.


==History==
⚫
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/ Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal | Square Feet Commercial Real Estate Blog]. Squarefeetblog.com (2008-08-19). Retrieved on 2011-05-30.</ref><ref name="bizjournals1"/>.
⚫
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>


⚫
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>
⚫
On November 17, 2010, it was announced that [[PricewaterhouseCoopers]] would begin leasing {{convert|209000|sqft|m2}} on eight floors of the tower in June, 2011, leaving their 165,000 square feet 10 Almaden Boulevard location in San Jose<ref>[http://www.mercurynews.com/top-stories/ci_16642004 At last, a tenant in downtown San Jose's Sobrato tower - San Jose Mercury News]. Mercurynews.com. Retrieved on 2011-05-30.</ref>.

⚫
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>

⚫
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>


== References ==
== References ==
<!--- See [[Wikipedia:Footnotes]] on how to create references using <ref></ref> tags which will then appear here automatically -->
{{Reflist}}
{{Reflist}}


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* [http://www.sobrato.com Sobrato Organization]
* [http://www.sobrato.com Sobrato Organization]


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[[Category:Skyscraper office buildings in San Jose, California]]
<!--- Categories --->
[[Category:Office buildings completed in 2002]]

{{coord missing|California}}

⚫
[[Category:Office buildings in California]]

Latest revision as of 18:34, 26 August 2024

Sobrato Office Tower
Map
General information
StatusCompleted
TypeCommercial offices
Architectural stylePostmodern
Location488 Almaden Boulevard
San Jose, California
Coordinates37°19′38″N 121°53′21″W / 37.3272°N 121.8891°W / 37.3272; -121.8891
GroundbreakingFall 2000[1]
CompletedWinter 2002[2]
Height
Roof85.3 m (280 ft)
Technical details
Floor count17
3 below ground
Floor area116,200 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]
  1. ^ "Sobrato Office Tower" (PDF). San Jose Redevelopment Agency. January 20, 2009. Retrieved July 4, 2018.
  2. ^ 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.
  3. ^ "Emporis building ID 138037". Emporis. Archived from the original on March 25, 2016.
  4. ^ "Sobrato Office Tower". SkyscraperPage.
  5. ^ Sobrato Office Tower at Structurae
  6. ^ Staff writers (23 February 2009). "Oracle Tower Going Sony?". Square Feet Commercial Real Estate Blog. Retrieved 1 August 2012.
  7. ^ "Sobrato-BEA in talks". The San Jose Business Journal. Retrieved 1 July 2012.
  8. ^ 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.
  9. ^ Aaron Smith (January 16, 2008). "Oracle, BEA Systems in $8.5B software merger". CNNMoney. Retrieved 1 August 2012.
  10. ^ San Jose Redevelopment Agency once again in the fiscal soup - San Jose Mercury News. Mercurynews.com. Retrieved on 2011-05-30.
  11. ^ 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.
  12. ^ "Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal". Square Feet Commercial Real Estate Blog. 19 August 2008. Retrieved 1 August 2012.
  13. ^ "At last, a tenant in downtown San Jose's Sobrato tower". San Jose Mercury News.
[edit]
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