Sobrato Office Tower
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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 have each been noted publicly to be negotiating to lease space in the building[8], but none of the 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].
References
- ^ http://www.squarefeetblog.com/commercial-real-estate-blog/2009/02/23/oracle-tower-going-sony/
- ^ http://sanjose.bizjournals.com/sanjose/stories/2006/12/25/story1.html
- ^ http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_San_Jose
- ^ http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231
- ^ http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231
- ^ http://money.cnn.com/2008/01/16/news/companies/oracle/?postversion=2008011608
- ^ http://www.mercurynews.com/bay-area-news/ci_15919345?source=rss
- ^ http://sanjose.bizjournals.com/sanjose/stories/2010/03/01/story2.html
- ^ http://www.squarefeetblog.com/commercial-real-estate-blog/2008/08/19/legacy-partners-drops-sobrato-oracle-bea-tower-deal/
- ^ http://sanjose.bizjournals.com/sanjose/stories/2010/07/19/story1.html?b=1279512000^3653231
External links