Sobrato Office Tower

Sobrato Office Tower is a 17-story, class-A office building at 488 Almaden Boulevard in San Jose, California. It is the third tallest building in the city. The building was completed in 2002 by the Sobrato Organization and remained unoccupied for nine years. Sobrato sold the building for $135 million to BEA Systems in 2007, which was itself later purchased by the building's present owner, Oracle.

History

Since its $138.5 million assessment in 2007, the assessed value of the building has fallen to $57 million.

At different times, the City of San Jose, Nvidia, Sony, and BEA itself were each noted publicly to be negotiating to lease space in the building but none of those reported negotiations resulted in a tenancy.

Criticism of the building and possible reasons for its inability to attract tenants have often focused on its location being too far from downtown San Jose.

On November 17, 2010, it was announced that PricewaterhouseCoopers would lease 209,000 square feet (19,400 m²) on eight floors of the tower beginning June 2011, thus leaving their 165,000 sq ft (15,300 m²) 10 Almaden Boulevard location in San Jose.

Text imported from Wikipedia article "Sobrato Office Tower" and modified on July 23, 2019 according to the CC-BY-SA 4.0 International license.