Now that Santana Row is wrapping up its final building, Federal Realty is setting their sights across the street with a new project called Santana West. The first phase officially broke ground last week and consists of an eight-story, 360,000 SQFT office building and a 1,750 space parking structure. Also, by breaking ground I mean there is already active construction on the site--it was not just a formality.
Federal Realty is trying to lease the whole building to a single tenant but is building Santana West speculatively without a tenant in tow. If all goes well, there are two additional phases that will bring the project to one million SQFT.
Unlike Santana Row, this is not a mixed-use development. In fact, there is no retail component at all--not even a coffee shop. The only likely public amenity in the project is the re-purposing of the Century 21 dome. This might seem like a missed opportunity, but two of the most successful retail projects in the United States are just across the street.
If everything goes according to plan, the building will be ready for occupancy in Q1 2021, less than two years from today.
Learn more at: https://www.thesanjoseblog.com/2019/08/santana-west-breaks-ground-on-350000.html