The Coleman Highline tech campus in San Jose may get an office building large enough to accommodate more than 1,000 workers.
Cupertino-based Hunter Storm, the primary developer of Coleman Highline, says demand for leasable space by major tech companies makes the 290,000-square-foot project feasible, the Mercury News reported.
“We are seeing a lot of activity in the market,” said Curtis Leigh, a principal executive at Hunter Storm. “So we decided to proceed.”
The new office building is being proposed for the 4.5-acre lot at 1185 Coleman Avenue, just west of the Norman Y. Mineta San Jose International Airport, the newspaper said.
Blackstone Real Estate Advisors bought two office buildings and one amenities building in Coleman Highline in 2020 for $275 million. All three are leased to Roku. AGC Equity Partners paid $780 million in December for three office buildings that will become an employment hub for Yahoo.
“The proposed development makes sense given the staggering transaction amounts” for the buildings the company has sold at Coleman Highline so far, said Bob Staedler, principal executive with land-use consultant Silicon Valley Synergy.
Hunter Storm plans to begin construction this summer, Leigh said.
“The market is still strong even with the pandemic, which has been something of a surprise,” he said. “We are going to keep going with the development plans as long as the market keeps going.”
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