San Jose's Hotel De Anza could soon have a new owner.
The landmark venue has been listed for sale, according to a real estate industry source. Brokerage firm Newmark's New York-based Lodging Capital Markets division, which is handling the listing, is nearing the end of the marketing process for it, the source said. The Art Deco-style hotel, whose rooftop sign has welcomed visitors to San Jose since it opened in 1931, could fetch a price in the low to mid-$30 million range, according to the source. At the top end, that would be about $350,000 for each of the venue's 100 rooms.
"There's the potential for it to be completely re-imagined and repositioned to take advantage of everything that's going on in Downtown San Jose," the source said.The Mercury Newsthe De Anza in 2014 for $20.4 million, according to Reonomy's real estate database. It handed over management of the hotel to its Destination Hotels division. Hyatt Hotels Corp. purchased that division in 2018, and now manages the iconic venue.
However, the asset manager appears to be Hotel Asset Value Enhancement Inc., which focuses on hotel properties. The address given for the limited liability company affiliated with the hotel is the same as that for HotelAVE's headquarters in Rhode Island.