The 160,000-sf telcom shell is located on Duane Avenue near Highway 101 and the San Tomas Expressway. Sutton says he has more interest than space available, and expects to have signed leases in the next 30 days, about when the building will be ready for tenant improvements. The going rate for the space is $3.75 per sf per month

"We have raised prices twice," Roley tells GlobeSt. "If it doesn't lease soon, we will probably raise them again--because we can."

The building, designed specifically for telcom users, is being developed by Pelio & Assoc., which is big into telcom space. San Jose Construction is managing the building process. Designed specifically for telcom users, the building will likely be leased by a few tenants taking large spaces, Roley says. The building is being developed down the street from another Pelio telco project, which was leased last year to Qwest Communications.