SAN JOSE — An eye-catching San Jose office building has landed a big lease with a cutting-edge tech company in a deal that offers a hopeful counterpoint to the dismal swaths of empty spaces in the Bay Area.
“Lease-up at Santana West continues with a newly signed deal with an AI-powered cloud database provider for 24,000 square feet on the first floor of the state-of-the-art building,” Donald Wood, Federal Realty chief executive officer, said during the conference call. — PwC, a professional services titan, signed a lease during the spring to occupy 141,000 square feet.
“This is an important sign for the San Jose office market,” said Bob Staedler, principal executive with Silicon Valley Synergy, a commercial real estate firm. “Every lease matters to dig out of the huge number of vacant square feet of existing office space.”