SAN JOSE — Santana Row in San Jose has landed a big office lease in a deal that suggests top-notch office complexes can still attract tenants despite a moribund Bay Area office market.
PwC U.S. Group, a professional services titan, has agreed to lease 141,000 square feet at One Santana West, a new office building at Santana Row. This news organization was the first to report in September 2023 that PwC was negotiating a lease at One Santana West.
“Santana West delivers on every reason to want to come into the office,” said Jan Sweetnam, chief investment officer with Federal Realty Investment Trust, the principal owner and developer of Santana West.
Newmark, a commercial real estate firm, arranged the PwC leasing deal.
The leasing transaction represents a big win for Santana Row, a destination neighborhood in western San Jose.
Federal Realty and Newmark have used the array of amenities at Santana Row as a way to entice tenants to sign up for spaces in One Santana West.
The real estate executives point to the restaurants, shops, housing, entertainment and hotel choices at Santana Row in their efforts to attract tenants in a tough office market.
One Santana West totals 376,000 square feet. Studios Architecture designed the building, which Devcon Construction built.
Acrisure, a fast-expanding financial technology and insurance company, leased 29,000 square feet in One Santana West, Federal Realty executives disclosed in December 2023.
“Santana West offers the ideal combination for companies seeking modern and efficient workspace and the deepest set of amenities available in the market,” Sweetnam said.