Search
 

Investors See Value in Walkability Near Transit

SAN JOSE—The mixed-use nature of the North San Jose market has become increasingly compelling to today's technology tenants.

By Lisa Brown | lisabrown | | Updated on May 24, 2016
Champion Station TMG renovated the interiors and common area amenities (photo courtesy of David Wakely).
SAN JOSE— Champion Station is a light rail stop steps from retail on North First Street and approximately one half mile from Levi’s Stadium . TMG Partners initially purchased the eight-building 810,000-square-foot campus from Cisco Systems in 2013. Immediately thereafter, TMG embarked on a major renovation of the building exteriors, interiors and common area amenities, as well as establishing a master signage and branding program. TMG subsequently sold four buildings to an investor in 2014 and the remainder of the project is occupied by ForeScout Technologies and Silver Spring Networks . The 95,550-square-foot building at 250 West Tasman Dr. has just been sold to a corporate user, says TMG Partners. David Cropper , TMG Partners director of development, tells Globest.com: “San Jose–and particularly North San Jose–continues to be increasingly attractive to technology companies, drawing from both global and local tenants who seek a higher degree of lifestyle amenities such as transportation, restaurants and retail, and walkability.  Combining that with the property renovations TMG undertook to further improve the asset, this park is very desirable.” The buyer was represented by Kidder Mathews’ Skip Whitney , partner, executive vice president and head of China Services and Eric Bluestein , also partner, executive vice president and on the China Services team.  The seller was represented by Colliers’ Craig Fordyce and Mike Rosendin , along with JLL’s Scott Mathisen . “The mixed-use nature of the North San Jose market has become increasingly compelling and we’re pleased our renovations have further supported attracting companies to the area where their employees can bike, ride the train, charge their electric cars, live across the street and walk down the street to restaurants or events at Levi’s Stadium,” says Cropper.  

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.