San Jose is Blowing Past Other Bay Area Cities. Here’s Why.
Job growth in San Jose is now growing at an annual pace of 6%—the best in the nation for large metro areas and faster than the San Francisco-Oakland-Hayward Region (3.4%), according to the Bureau of Labor Statistics. Here’s what you need to know.
A big reason is the development and significant renovations of corporate campuses in North San Jose, which accommodate thousands of employees, says the city’s chief economist, John Lang. Samsung’s new campus is expected to house more than 2,000 employees when it opens its doors later this year. In addition, Bixby Land’s THE Campus on Renovation Row in North San Jose recently went through a major redo (pictured) and sold to MCP Trimble Campus. The creative office will accommodate nearly 1,000 employees.
Sales of land and renovated campuses don’t appear to be slowing anytime soon, says Nanci Klein from the San Jose’s economic development office. San Jose is the largest city in the Bay Area, and with ample room to grow and the amenities and access employers and top talent are looking for, “we are seeing significant investment,” she says, here in front of a pic of One South Market’s topping off last year—one of seven reasons Bisnow told you to be excited about San Jose.
One of the latest transactions is Seattle-based Washington Holdings’ purchase of Zanker Business Center, four single-story R&D buildings in North San Jose on Zanker Road. Washington Holdings plans to reposition the property with the amenities and architecture typical of a modern Class-A office/tech park.