Bay Area/ San Jose
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Published on February 07, 2025
Santana Row Thrives Amid Bay Area Downturn: New Tenants Solidify San Jose's Office Market OptimismSource: Google Street View

San Jose's Santana Row continues to fill its commercial spaces amid a challenging Bay Area office market, securing three new office tenants and a cafe for its new One Santana West building. The Mercury News reports that Cloud services provider Calix is relocating its headquarters from North San Jose to occupy 23,000 square feet at the new site, with CFO Cory Sindelar noting the location's perks for hosting "customers, investors and employees."

Workspace design firm Pivot Interiors is also making a move, snapping up 15,000 square feet as it eyes growth in the business of crafting collaborative and productive environments, with CEO Ken Baugh commenting on the exciting move, and BetterHelp, the online therapy service under the wing of Teladoc, is set to fill 10,400 square feet, broadening their scope in the tech-heavy district according to ConnectCRE. Additionally, fueling the bustling atmosphere, The Good Eating Company is prepping to launch a full-service cafe, enhancing the ground floor's offerings.

The One Santana West building, part of the nightlife and dining-rich Santana Row, is now reportedly 70% leased; this comes as quite the achievement, given the recent spiking vacancy rates and economic downturns plugging the overall Bay Area office sector as highlighted by The Mercury News. It's a notable contrast to the wider real estate landscape, which has been seeing shooting-up vacancy rates, a surge in sublease spaces, dipping property values, and a rise in loan-default-related foreclosures.