KW Fund VI Valley Oak, an affiliate of Beverly Hills-based realty investment and management firm Kennedy Wilson, paid $81.2 million on June 26 for five buildings sold by the Sobrato Family Foundation, according to Santa Clara County property records.
Amid a boom in leases and purchases of big office buildings throughout Silicon Valley the last few years, industry experts believe south San Jose is becoming a more attractive option when compared with more pricey parts of the Bay Area.
“Going to work in south San Jose is a reverse commute,” said Clay Jubran, an associate and broker with Colliers International, a commercial realty firm. “People are getting sick of sitting in traffic.”
Earlier this year my company moved my division from our Palo Alto location to a building just next to the office complex in the article. Yes, the rent is cheaper. And for most of us, the commute is way better.
Hardware but not computer. Satellite communications equipment.
4 years ago I bought a house 4 miles away off Santa Teresa. Commute to Palo Alto sucked. Now I have the shortest commute in the office. Better to be lucky than smart I guess…
Historically most of the hardware companies are in the south part of South Bay. Intel has been in Santa Clara since the 60s. Nvidia is across the street from intel. AMD actually moved a couple miles south from Sunnyvale to Santa Clara. Networking firms like Cisco is in Milpitas and San Jose.
So a lot of these hardware engineers are already living in south South Bay. It makes sense for firms locating there instead of Mountain View and Palo Alto. It’s a lot cheaper as well.
OSH headquarter next door will be closed soon. There are several buildings in the vicinity that were leased to IBM controllers development until around 1990. It never found a tenant. Across were hard drive development, fast SCSI development, and nearby was IBM Field Engineering doing software support for customers. Most customer were federal government customers. Cobal language today is still very much alive used by insurance companies off Bailey. Well window Cobol. They can put 3-5,000 engineers there.
The wafer and HDD productions are still at IBM Cottle site to my knowledge. You are referring to the development near Evergreen College probably house 1-2K people. The one near Mexico Consulate is gone. Near by was the Intel cleanroom lasted only 1 month… This is how volatile high tech business is.
