SteelWave and USAA Real Estate Co Start Work On Phase 2 Of America Center
SteelWave and USAA Real Estate Co have begun work on Phase 2 of the America Center in San Jose. SteelWave managing director Edward Nazaradeh will be one of our speakers at Bisnow's Silicon Valley Creative Office event June 15 at The Westin San Jose.
San Jose Mayor Sam Liccardo, SteelWave senior managing director Steve Dunn and USAA Real Estate Co senior director of investments Nawder Alavi participated in this week's groundbreaking.
Steve was enthusiastic about the office project, stressing its location and the hope of drawing tech tenants. “The central Silicon Valley location, magnificent views of the San Francisco Bay, and high-tech buildings and amenities make America Center a compelling property,” he said. “We are excited to celebrate this groundbreaking and introduce this new, large leasing opportunity to Silicon Valley’s corporate and technology users.”
The new construction will add two six-story office buildings, an amenity center and parking facilities covering 450k SF. Along with the first phase of development, which was completed in 2009, the project now covers 885k SF. Once a scheduled Phase 3 is complete the project ultimately will provide 1.1M SF of LEED Gold-certified office space in Silicon Valley.
America Center represents a drive to develop office space for tech tenants. While San Francisco might be experiencing a slowdown in large office leases, Silicon Valley seems to be holding steady in demand.
Newmark Cornish & Carey's Phil Mahoney and Randy Gabrielson are marketing the property for lease.