Verizon's new technology hub at Coleman Highline in San Jose recently broke ground.
SAN JOSE—Verizon and Cupertino-based Hunter Storm recently broke ground on Verizon's new 640,000-square-foot technology hub at Coleman Highline, a mixed-use transit-oriented development. The Verizon tech hub will support more than 3,000 employees, and include a 2,250-square-foot welcome pavilion along with more than 45,000 square feet of workplace amenities such as a fitness center, cafe and marketplace.
The campus will create communal spaces for collaboration and was designed by Gensler's San Francisco and New York offices. Completion is slated for late 2021.
"We're excited to begin a new chapter in Silicon Valley with our next-generation workplace," says Guru Gowrappan, CEO of Verizon Media. "Hunter Storm has been a great partner, and the city of San Jose is behind our vision for a sustainable, community-focused campus that is good for both our employees and the community."
Verizon Media will occupy a large portion of the 1.75 million square feet of Coleman Highline. Roku Inc. leased 730,000 square feet of the project last summer for its new corporate headquarters. The project will be built in phases and include 115,000 square feet of amenities and retail space, including a public market and hotel with 175 rooms next to Avaya Stadium.
Coleman Highline will have access to the nearby Santa Clara Transit Center currently served by Caltrain, Altamont Corridor Express, Valley Transit Authority and the future site of a new BART station. It will be directly adjacent to Gateway Crossings, another Hunter Storm project that will offer 1,565 homes in addition to a hotel with 225 rooms, two parks with 2.5 acres of public space and 45,000 square feet of retail.
"It's clear that companies want to be part of the new culture emerging here in San Jose, and we're happy to partner with Verizon Media to create a convenient, transit-oriented campus that will allow employees the opportunity to live, shop and play close to where they work," Deke Hunter, managing partner and president of Hunter Properties, tells GlobeSt.com.
Job growth in the San Jose metropolitan statistical area continued, with an increase of 31,900 jobs (2.8%) added year-over-year. This brings regional employment to 1.2 million, according to a recent report by Cushman & Wakefield. Though that increase is impressive, particularly considering the market is at full employment, it has slowed from just a few years ago. The strongest driver to job growth remains, of course, the tech sector. The San Jose MSA unemployment rate remained consistent during the year closing at 2.6%, which compares to the higher national figure of 3.7%.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
