Sobrato Office Tower: Difference between revisions
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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/ 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. |
'''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. |
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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>. |
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>. |
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Revision as of 16:08, 10 November 2011
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. Since being built in 2002 by the Sobrato Organization, it has remained unoccupied[3]. Sobrato sold the building for $135 million to BEA Systems in 2007[3], which itself was bought by Oracle[4], the building's present owner.
Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million[5].
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[6], 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[7][3].
On November 17, 2010, it was announced that PricewaterhouseCoopers would begin leasing 209,000 square feet (19,400 m2) on eight floors of the tower in June, 2011, leaving their 165,000 square feet 10 Almaden Boulevard location in San Jose[8].
References
- ^ Oracle Tower Going Sony? | Square Feet Commercial Real Estate Blog. Squarefeetblog.com (2009-02-23). Retrieved on 2011-05-30.
- ^ Sobrato-BEA in talks | Silicon Valley / San Jose Business Journal. Sanjose.bizjournals.com. Retrieved on 2011-05-30.
- ^ a b c Deal near on downtown San Jose's biggest vacancy | Silicon Valley / San Jose Business Journal. Sanjose.bizjournals.com. Retrieved on 2011-05-30.
- ^ Oracle, BEA Systems in $8.5B software merger - Jan. 16, 2008. Money.cnn.com (2008-01-16). Retrieved on 2011-05-30.
- ^ San Jose Redevelopment Agency once again in the fiscal soup - San Jose Mercury News. Mercurynews.com. Retrieved on 2011-05-30.
- ^ 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.
- ^ Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal | Square Feet Commercial Real Estate Blog. Squarefeetblog.com (2008-08-19). Retrieved on 2011-05-30.
- ^ At last, a tenant in downtown San Jose's Sobrato tower - San Jose Mercury News. Mercurynews.com. Retrieved on 2011-05-30.
External links