Verizon's Monster San Jose Lease
San Jose's empty and newly renovated 250k SF THE Campus just netted its first tenant and it's a big one. (It's THE tenant.)
Verizon Corporate Services just called two buildings, signing yesterday for 136k SF at 375 and 397 Trimble Rd. The project's been through a lot (during the recession the complex went back to a lender before Bixby Land Co stepped in late 2012). After a $26M renovation it's now got a boutique hotel feel, with couch seating areas and fire pits. (Though there is a strict "no burning the couches" policy.) Bixby transformed a secluded 20k SF area into outdoor pods for meetings—or happy hour (or hide and seek)—and mechanical roll-up doors open up more space to the outside. Tenants can burn calories in the bocce ball court, outdoor exercise deck and yoga area.
Now one 91k SF building remains up for grabs. (We're just guessing it won't be AT&T, though that would make for some heated bocce ball tourneys.) Bixby was repped by CBRE's Christian Marent, Rob Shannon and Vincent Scott and Verizon was repped by CBRE's Michael Filice and Matthew Hargrove. Back in March when leasing kicked off Christian told us there's a fair amount of vacancy in that pocket of San Jose due to the repositioning work in the area, with owners like TMG dumping lots of capital into existing buildings. This marks Bixby’s third major office park repositioning in the past two years.
