Who’s the mystery tenant moving into San Jose’s biggest-ever office park? That’s the million-dollar question everyone in Silicon Valley is scrambling to answer.
Speculation started flying as soon as San Jose city officials approved the 2-million square-foot office project on North First Street and Brokaw Road in North San Jose on Wednesday.
The list of potential occupants includes everybody from Seattle-based Microsoft and Amazon, to locals Apple, Google and Facebook.
So far, the only person at City Hall who reportedly knows the name of the company is San Jose Mayor Chuck Reed, and he’s not talking.
“The company name is not something that I can divulge.” Reed told NBC Bay Area. “They’ve asked me to keep it confidential and I will, but it’s obviously a pretty big deal for 2-million square-feet, it’s an awfully large space.”
Reed added that it was a Fortune 500 company and people will recognize the name when they finally hear it.
“It’s a Silicon Valley tech company,” he said. “There’s no doubt that there’s plenty of companies growing and we want to keep them here.”
The project’s developers, Palo-Alto-based Peery-Arrillaga who are also behind Stanford’s new stadium and the HP and Apple campuses, are not talking either. The firm did not immediately return requests for comment.
Reed underlined the importance of developing the North San Jose area in a September 2013 traffic impact fee incentive recommendation for large-scale offices and R&D campuses, including Peery-Arrillaga’s proposed project.
“With its superior urban design features and proposed high densities [the proposed project] is an excellent example of how we can achieve the objectives of the North San Jose Development policy,” the mayor said.
He added that he was committed to supporting developments such as the Peery-Arrillaga project, which, “when constructed and occupied” will bring thousands of jobs and millions of dollars in revenue to the city.
Peery-Arrillaga was able to secure permits for the project in just six months and got the city to forgo $4 million in transportation impact fees.
The scale of the proposed project itself — it’s twice the size of Facebook’s Menlo Park campus and more than two-third the size of Apple’s planned “spaceship” campus in Cupertino — has sparked quite a bit of interest. The site, located near Highway 101, where the Bay 101 Casino is located, is expected to house 8,000 to 10,000 employees in 10 seven-story buildings. There are also plans for an activity center with soccer fields and courts for basketball, raquetball and squash.
Reed says that he doesn’t expect the tech pushback San Francisco and Mountain View are currently experiencing, in part because not a whole lot of people live in that area of San Jose.
“It’s going to be a very iconic development for the city and for Silicon Valley,” said Steve Piasecki, the city’s interim planning official. “…You are going to know where the heart of Silicon Valley is in the not too distant future.”
Although Piasecki said that there was enough infrastructure in place to handle the traffic impact caused by the proposed project, the city has already heared from concerned residents.
The proposed project is expected to break ground sometime in 2014.