3111 Coronado Dr. Rendering
SANTA CLARA, CA-Bixby Land Co. of Irvine, CA is investing $10 million in two office buildings it owns here, upgrading their property at 3111 Coronado Dr. with a LEED-certified redesign and redevelopment that will create 127,000 square feet of contiguous space. It is designed to meet what Bixby describes as "an increasing demand for large blocks of space in Silicon Valley." The project includes adjoining the buildings with a two-story glass pavilion and creating an exterior courtyard lounge area for tenants. Bill Halford, president and CEO of Bixby Land, says that the redevelopment is designed by Studio G Architects to produce space that "will be ideal for a user seeking a highly amenitized work environment.”
Architectural renderings of the redesigned project feature a courtyard gathering area for tenants that includes couch seating, fire pits, recessed lighting, an outdoor kitchen and grill, drought-tolerant landscaping and a waterscape feature. The redevelopment is being done with a major focus on sustainability and LEED certification for the building upon completion. A substantial portion of the redevelopment includes new roofs and HVAC systems.
New Courtyard Rendering
The project is located two miles from San Jose Airport and within walking distance of a host of retail services and the San Tomas Aquino Trail System. The buildings feature abundant natural light with glass lines on all sides, and the interiors are finished with spacious 10-foot ceilings.
Bixby Land Co.'s redesign of the property occurs as tenants with large office space requirements in the Silicon Valley have a dwindling number of leasing options. "Leasing and sales of buildings 100,000 square feet and larger has been brisk in the first half of 2011 as growth-minded companies, particularly in the tech sector, eye future expansion," the company notes.
Halford adds, “The inventory of quality larger blocks of space in Silicon Valley continues to decline, and this is the ideal time to redesign the project and deliver 127,000 square feet of contiguous, highly improved space to the market.” said Halford.
In addition to its investment in the redesign of 3111 Coronado Dr., Bixby expanded its Silicon Valley portfolio with the July purchase of a 164,000-square-foot office campus in Silicon Valley’s Golden Triangle. It has begun an $11 million renovation to the property, located at 211, 251, and 281 River Oaks Parkway, with a planned completion date later this year. Bixby Land assembled the purchase of the vacant, three-building complex in two separate transactions totaling $19.5 million. Sellers were Peery Arrillaga and NSJ Investors LLC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
