60 South Market
San Jose

Built in 1986, the 234,835 square-foot, 14-story Class A office tower is now one of Downtown San Jose’s premier business addresses. The acquisition marked the initial investment by Harvest Properties in Downtown San Jose. Between 2013 and 2016, Harvest developed a full-service amenities package including a renovated lobby with communal seating areas and public wifi, fitness center, state-of-the-art conference facility and usable outdoor balconies. These improvements aided Harvest in increasing occupancy from 65% to 95% during its initial three-year ownership period. In July 2016, a new joint venture sponsored by Harvest Properties acquired the Property from the prior joint venture. Harvest elected to continue its ownership given its conviction about the positive long-term prospects for the Downtown San Jose economy driven by technology employment migration into the urban environment, the significant stock of residential developments underway in the CBD and planned public transportation infrastructure improvements.

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Location
60 South Market Street, San Jose, CA
Acquired
August 2016
Size
234,835 sq. ft.
Status
Current investment