A three-building, 164,000-square-foot office campus renovation in North San Jose could be an attractive new home for a Silicon Valley tech company.
Bixby Land Co., an Irvine-based real estate investment company with a portfolio valued at about $1 billion, hopes so.
The company completed a $5 million renovation to the buildings at 211, 251 and 281 River Oaks Parkway. The buildings have been vacant for the last nine months. Dun & Bradstreet Information Services was the last tenant to leave the campus.
Jim Beeger, senior vice president in the San Jose office of Colliers International, is marketing the property for Bixby along with his Colliers colleague, Craig Fordyce, senior vice president. Asking monthly lease rates for office and research and development space in North San Jose are about $1.75 per square foot, Beeger said.
“We have a lot of companies taking tours of the campus, but no negotiations yet,” Beeger said of the 30-year-old campus. The three buildings range in size from 41,000 square feet to 75,000 square feet.
“A single tenant is preferable, and it is laid out extremely well for a single user,” Beeger said. “There are probably a good 28 companies looking for space of at least 100,000 square feet.”
Bill Halford, president and CEO of Bixby, said his company is doing renovations on aging office and R&D space with an eye toward work-life balance. This project included creating a 30,000-squarefoot commons area between the buildings. The area is viewed as an “outdoor living room” with seating areas and extensive landscaping.