May 24, 2016
Foster City, CA-based SteelWave and partner USAA Real Estate Co. broke ground on the final phase of America Center in North San Jose, CA. Construction is underway on two, six-story buildings, totaling 450,000 square feet of office space.
Located off Highway 101 at Highway 237, America Center is a 70-acre former brownfield site, developed by Legacy Partners in 2009. SteelWave, formerly known as Legacy Partners, sold the site to USAA in 2013 for about $200 million, and remained as the development partner.
Newmark Cornish & Carey’s Phil Mahoney is handling leasing of America Center, with Randy Gabrielson and Julia Szabo. Mahoney says the property is located in a desirable path of “high-growth.” The property is expected to benefit from south migrating tenants in a supply-constrained market with few large blocks of space available.