SAN JOSE, CA-Those who follow @GlobeStcom on Twitter may have seen a post teasing the announcement yesterday, but GlobeSt.com has learned that Ellis Partners LLC has submitted formal entitlements to develop the 101 Tech campus located near the San Jose Airport. Once constructed, the complex can host three six-story class A office buildings totaling 665,000 square feet and a gathering hall that can house a private food court and fitness center.
The project will bring much needed “new generation” office space to the Highway 101 & 87 corridor in North San Jose, according to a prepared statement. Ellis is targeting to complete the entitlement process by September.
Ellis Partners, a San Francisco-based developer, tells GlobeSt.com that it does not currently have a project cost that it can make public at this time. The firm acquired the property in August of 2011 from the Atmel Corp. for a price it also could not disclose to GlobeSt.com.
The property consists of 12.9 acres of vacant land and a two-story, 291,000 square corporate headquarters building that will be vacated in June of this year. Ellis Partners also plans to start a major renovation of the existing building as soon as Atmel Corp. moves out. Ellis Partners tells GlobeSt.com that the headquarters building will be vacated in June of this year.
The buildings are master-planned such that all four buildings create a campus environment, of approximately 1 million square feet, with unparalleled visibility from Highway 101 and 87, according to a prepared statement. 101 Tech represents one of the last remaining places in Silicon Valley that can accommodate a campus requirement of this scale, says the statement.
“101 Tech demonstrates our long history of providing environments that cater to technology based companies. We believe this is an ideal location to establish such a cutting edge project,” says Dean Rubinson, senior vice president of development at Ellis Partners. “We look forward to accommodating companies that seek a creative campus setting in a convenient location at the heart of the greatest technology cluster in the world.”
Construction on the property can begin after formal approval by San Jose authorities. The project is being marketed by Phil Mahoney, John Yandle, and Michael Saign of Cornish and Carey.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
