{"id":1004151876,"date":"2016-09-07T03:25:01","date_gmt":"2016-09-07T11:25:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004151876"},"modified":"2020-05-11T22:10:43","modified_gmt":"2020-05-12T06:10:43","slug":"silicon-valley-office-campus-to-add-retail-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-campus-to-add-retail-hotel\/","title":{"rendered":"Silicon Valley Office Campus to Add Retail, Hotel"},"content":{"rendered":"

By Gail Kalinoski<\/em><\/p>\n

\"Mission<\/a>

Mission Park expansion rendering, Santa Clara, Calif.<\/p><\/div>\n

Santa Clara, Calif.<\/strong>\u2014Washington Holdings<\/a>, a Seattle-based institutional commercial real estate investment firm, is revamping its 46-acre Mission Park office campus in Santa Clara by adding 24,000 square feet of retail and a five-story, 175-room extended-stay hotel to the property.<\/p>\n

The firm, which also has offices in Santa Clara and Los Angeles, has received approval from the City of Santa Clara for the addition to the site, located about one mile from Levi\u2019s Stadium. Mission Park, near Highway 101, spans a large stretch of Montague Expressway and is bordered by Mission College Boulevard and Lafayette Street.<\/p>\n

Washington Holdings, which acquires, develops, manages and invests in real estate assets within the western United States, bought Mission Park three years ago and has invested about $20 million in upgrades to building facades, common areas and adding new outdoor amenity spaces and sidewalks to create a more modern, pedestrian-friendly environment. The firm said leasing has already increased by more than 350,000 square feet.<\/p>\n

Now the firm is transforming a 6.58-acre portion of the property by razing three office buildings\u2013one two-story and two single-story structures that were built between 1980 and 1983\u2013and erecting an Element hotel and retail structures. Construction is expected to begin in the second quarter of 2017 and be completed by mid-2018. A total of five single-story retail buildings, ranging in size from 1,300 to 7,200 square feet, will be developed to add restaurants and other services to the campus. When the new development is finished, the property will have 560,000 square feet of office and R&D space remaining.<\/p>\n

\u201cIn 2013, we took over Mission Park with the goal of creating a high quality, modern office park catering to small and mid-sized tech companies,\u201d Casey Holt, VP & general manger of Washington Holdings, said in a prepared statement. \u201cWith the office building renovations now complete throughout the Park and approvals in place on the retail and hotel redevelopment, our vision for an amenity-rich Mission Park will soon be fully realized.\u201d<\/p>\n

Newmark Cornish & Carey, part of Newmark Grubb Knight Frank, is marketing the project for leasing. The team is led by Senior Managing Director Mike Saign, Executive Managing Director Jeff Arrillaga and Executive Vice President Todd Shaffer.<\/p>\n

The retail portion of Mission Park is being marketed for lease by Cushman & Wakefield\u2019s James Chung and Todd Beatty.<\/p>\n

\u201cIt is critical in today\u2019s competitive marketplace to provide tenants with a thoughtful array of amenities that have become commonplace within large corporate campuses,\u201d Saign said in prepared remarks. \u201cThe new on-site retail and hotel will complete the package for Mission Park in offering the best in class office\/R&D facilities for tenants to successfully recruit and retain top Silicon Valley talent.\u201d<\/p>\n

Starwood did not return Commercial Property Executive<\/a><\/em>\u2019s request for information or confirmation on the planned Element hotel in the Mission Park complex. That information was supplied by Newmark Cornish & Carey and Newmark Grubb Knight Frank.<\/p>\n

Element is described as the first major hotel brand to mandate that all properties pursue sustainable certifications. The brand is known for its \u201cclean, modern design and eco-conscious programming.\u201d Starwood introduced Element Hotels in 2008. In April, Starwood announced it planned to significantly expand the brand, more than doubling its North America footprint over the next three years. The company plans to enter several new markets<\/a> by the end of 2018 including San Antonio; Chandler, Ariz.; Moline, Ill.; Syracuse, N.Y.; Bentonville, Ark.; and Huntsville, Ala. The April 25 press release from the Stamford, Conn.-based hospitality giant did not mention a hotel in the Santa Clara area. But company officials may have been waiting for the City of Santa Clara to approve Washington Holdings\u2019 redevelopment plan before announcing the hotel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Washington Holdings acquired Mission Park three years ago and has already invested $20 million in upgrades.<\/p>\n","protected":false},"author":1068,"featured_media":1004505669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21751,21742,21749,1609,15],"tags":[],"class_list":["post-1004151876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-hotel","category-latest","category-retail","category-san-francisco","category-west"],"acf":[],"yoast_head":"\nSilicon Valley Office Campus to Add Retail, Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-campus-to-add-retail-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silicon Valley Office Campus to Add Retail, Hotel\" \/>\n<meta property=\"og:description\" content=\"Washington Holdings acquired Mission Park three years ago and has already invested $20 million in upgrades.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-campus-to-add-retail-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-07T11:25:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T06:10:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Mission-Park-expansion-rendering-Santa-Clara-Calif.-e1473245231692.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"Silicon Valley Office Campus to Add Retail, Hotel\",\"datePublished\":\"2016-09-07T11:25:01+00:00\",\"dateModified\":\"2020-05-12T06:10:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/\"},\"wordCount\":636,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Mission-Park-expansion-rendering-Santa-Clara-Calif.-e1473245231692.jpg\",\"articleSection\":[\"Development\",\"Featured\",\"Hotel\",\"News\",\"Retail\",\"San Francisco\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/silicon-valley-office-campus-to-add-retail-hotel\\\/\",\"name\":\"Silicon Valley Office Campus to Add Retail, Hotel - 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