Mixed-Use Development Vespaio is Critical Cog for Regional Growth
A $78.5 million bridge loan was recently arranged for the refinancing of Vespaio, a newly constructed mixed-use project that is currently in lease-up in San Jose. Tech firm Surfaceink has already signed a lease agreement to occupy office space at Vespaio.
Located at 130 Stockton Ave., Vespaio is comprised of 162 apartments as well as retail and office space. The unit mix features a range of studio, one-, two- and three-bedroom floorplans ranging from 530 to 1,697 square feet. The seven-story property also features 32,000 square feet of retail and creative office space.
Andrew Behrens and Jesse Weber of CBRE arranged the loan on behalf of the owner and developer, The Hudson Companies.
“Vespaio is an incredibly exciting project that will provide much-needed housing, and quality office and retail space to downtown San Jose,” said Behrens. “As major tech firms continue to bolster their presence in Silicon Valley, projects like Vespaio are critical to support the growth of the region.”