Sobrato Office Tower

Sobrato Office Tower
General information
Status Complete
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 / 37.3272; -121.8891Coordinates: 37°19′38″N 121°53′21″W / 37.3272°N 121.8891°W / 37.3272; -121.8891
Completed 2005
Height
Roof 85.3 m (280 ft)
Technical details
Floor count 19
3 below ground
Floor area 116,200 m2 (1,251,000 sq ft)
Design and construction
Architect Korth Sunseri Hagey Architects
References
[1][2][3]

Sobrato Office Tower is a 17-story, class-A office building at 488 Almaden Boulevard in San Jose, California.[4][5] It is the third tallest building in the city. The building was completed in 2005 by the Sobrato Organization and remained unoccupied for five years.[6] Sobrato sold the building for $135 million to BEA Systems in 2007, which was itself later purchased by the building's present owner, Oracle.[6][7]

Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million.[8]

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 but none of those reported negotiations resulted in a tenancy.[9]

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.[6][10]

On November 17, 2010, it was announced that PricewaterhouseCoopers would lease 209,000 square feet (19,400 m2) on eight floors of the tower beginning June 2011, thus leaving their 165,000 sq ft (15,300 m2) 10 Almaden Boulevard location in San Jose.[11]

References

  1. ↑ Sobrato Office Tower at Emporis
  2. ↑ Sobrato Office Tower at SkyscraperPage
  3. ↑ Sobrato Office Tower at Structurae
  4. ↑ Staff writers (23 February 2009). "Oracle Tower Going Sony?". Square Feet Commercial Real Estate Blog. Retrieved 1 August 2012.
  5. ↑ "Sobrato-BEA in talks". The San Jose Business Journal. Retrieved 1 July 2012.
  6. 1 2 3 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.
  7. ↑ Aaron Smith (January 16, 2008). "Oracle, BEA Systems in $8.5B software merger". CNNMoney. Retrieved 1 August 2012.
  8. ↑ San Jose Redevelopment Agency once again in the fiscal soup - San Jose Mercury News. Mercurynews.com. Retrieved on 2011-05-30.
  9. ↑ 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.
  10. ↑ "Legacy Partners Drops Sobrato-Oracle-BEA Tower Deal". Square Feet Commercial Real Estate Blog. 19 August 2008. Retrieved 1 August 2012.
  11. ↑ "At last, a tenant in downtown San Jose's Sobrato tower". San Jose Mercury News.

External links

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