TMG Partners and Valley Oak Partners are one step closer to building over 1M SF of office near Diridon Station in Downtown San Jose. The JV, TMG-VOP Julian, submitted a site development permit application to the city Monday, weeks after it received approval to rezone its site at 440 West Julian St. from light and heavy industrial to a transit employment center.
“This part of San Jose has the potential to serve as the new focal point of Silicon Valley,” TMG Partners Chief Investment Officer Matt Field and Valley Oak Partners principal Steve Fisher said in a joint statement. “Our belief is that Diridon Station, in particular, will activate this historically industrial part of downtown San Jose into a bustling, inclusive, economic powerhouse.”
The 5.49-acre site is within the Diridon Station Area Plan and is partially occupied by industrial buildings and parking lots with 287 spots.
The surrounding area is being bought up by Google as part of its initial plan to build a massive campus at Diridon Station. Since Google’s summer announcement, building sales and proposed development have increased at a steady pace in Downtown San Jose.
The JV’s proposed project, designed by Kohn Pedersen Fox, will develop three six-story office buildings and below-grade parking. The three buildings will be 157K SF, 367K SF feet and 499K SF and have views of Downtown San Jose. Each building will feature floor plates ranging from 27K SF to 90K SF, 15-foot floor-to-floor heights and large private terraces on every floor.
The development has immediate pedestrian accessibility to the Guadalupe River Park across Autumn Parkway and is within walking distance to the restaurants at San Pedro Square and the financial center of San Jose. It also is a short walk to Diridon Station and close to the SAP Center.
CBRE Managing Director Mark Schmidt will market the building.