Sobrato Office Tower: Difference between revisions

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Sobrato Tower is a 17-story, 388,000 square foot^[1] Class A^[2] office building at 488 Almaden Boulevard in San Jose, California. It is the third tallest building in the city, in terms of measured height^[3]. Since being built in 2002 by the Sobrato Organization, it has remained unoccupied^[4]. Sobrato sold the building for $135 million to BEA Systems in 2007^[5], which itself was bought by Oracle^[6], the building's present owner.

Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million^[7].

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^[8], but none of those reported negotiations resulted in a tenancy.

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^[9]^[10].

On November 17, 2010, it was announced that PricewaterhouseCoopers would begin leasing 209,000 square feet on eight floors of the tower in June, 2011, leaving their 165,000 square feet 10 Almaden Boulevard location in San Jose^[11].

References

External links

Sobrato Organization

[1] ttp://www.squarefeetblog.com/commercial-real-estate-blog/2009/02/23/oracle-tower-going-sony/

[2] ttp://sanjose.bizjournals.com/sanjose/stories/2006/12/25/story1.html

[3] ttp://en.wikipedia.org/wiki/List_of_tallest_buildings_in_San_Jose

[4] ttp://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231

[5] ttp://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231

[6] ttp://money.cnn.com/2008/01/16/news/companies/oracle/?postversion=2008011608

[7] ttp://www.mercurynews.com/bay-area-news/ci_15919345?source=rss

[8] ttp://sanjose.bizjournals.com/sanjose/stories/2010/03/01/story2.html

[9] ttp://www.squarefeetblog.com/commercial-real-estate-blog/2008/08/19/legacy-partners-drops-sobrato-oracle-bea-tower-deal/

[10] ttp://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231

[11] ttp://www.mercurynews.com/top-stories/ci_16642004

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@@ Line 5: / Line 5: @@
 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</ref>.
-At different times, the City of San Jose, [[Nvidia]], [[Sony]], and BEA itself have each been noted publicly to be negotiating to lease space in the building<ref>http://sanjose.bizjournals.com/sanjose/stories/2010/03/01/story2.html</ref>, but none of the reported negotiations resulted in a tenancy.
+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</ref>, but none of those reported negotiations resulted in a tenancy.
 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/</ref><ref>http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231</ref>.
+On November 17, 2010, it was announced that [[PricewaterhouseCoopers]] would begin leasing 209,000 square feet 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</ref>.
 == References ==