July 2, 2015
Though the SV Towers are only 51 percent leased, Harvest Properties and Invesco Real Estate just shelled out $62 million to purchase them. The complex consists of two towers totaling 413,000 square feet in Downtown San Jose.
The hope is that tech companies that want to be located in the area will lease up the space, much as they have in urban environments in San Francisco and Oakland. San Jose’s downtown is also seeing a recent boost in the construction of residential real estate.
CBRE’s Joe Moriarty, who brokered the deal, said that that the area is becoming more of a live-work environment that has increased pedestrian traffic.