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Federal Realty Enjoys Leasing Success at One Santana West
Federal Realty Investment Trust’s One Santana West, a new office building located across the street from the Santana Row mixed-use neighborhood in San Jose, is enjoying brisk leasing activity amid a challenging environment for the sector, the Mercury News reported.
One large office lease was complete at One Santana West, while another big lease was in the final stages of being fully completed, Federal Realty CEO Donald Wood told analysts during a fourth-quarter earnings call. “Santana West will be nearly half leased up” when these deals are complete, Wood said on the call.
Acrisure, a fast-expanding financial technology and insurance company, leased 29,000 square feet in December to become the first tenant signed to the new-construction office property at 3155 Olsen Dr.
Now, another major lease is in the works at One Santana West, Federal Realty officials said during the conference call. The possible tenant has signed a letter of intent. “That deal, along with Acrisure and a couple of other smaller things are what gets us to that half done on that building, One Santana West,” Wood said.
- ◦Lease
