The first of many exciting projects, this property located at 26 & 30 S. 1st Street features 65,000 square feet of office space and 10,000 square feet of retail space located on historic Fountain Alley, next to Bank of Italy and 200 feet from the future BART Station. The retail will wrap down Fountain Alley and be mirrored by the Bank of Italy’s newly renovated retail to create a retail destination. The project includes the existing historic building that will be used as the main entrance and lobby for the office space. Tenants will have a grand historic entrance and lobby that leads to a Class A modern office space. The land is pre-zoned and pre-general planned for mixed use, and construction is slated to begin in Q4 of 2020.

Office Space

Retail Space

Transaction Status

Close of Escrow

65,000 SF

10,000 SF

Signed Purchase and
Sale Agreement

April 27, 2019

    Purchase Price

Project Cost

Value at Stabilization

Profits

 $9 Million

$57 Million

$91 Million

$34 Million

    Multiple

Return on Cost

Exit Cap Rate

Internal Rate of Return

 2.72x

7.68%

5.58%

22.13%

A trendy and upcoming area of downtown San Jose known for its restaurants and entertainment, SoFA has a unique variety of businesses including cafes, restaurants, clubs, art galleries, and health & fitness gyms. This project is located at 425 S. 2nd Street. Once completed, the project will include 400 luxury multifamily apartment units and 10,000 square feet of ground floor retail space. Due to the recent changes in height increases granted by the San Jose City Council in March 2019 this project will be one of the tallest buildings in San Jose. This growing corridor is filling up quickly as more people move in to be close to the popular scene.

Multifamily

Retail Space

Transaction Status

Close of Escrow

400 units

10,000 SF

Signed Purchase and
Sale Agreement

July 1, 2019

    Purchase Price

Project Cost

Value at Stabilization

Profits

 $15 Million

$250 Million

$372 Million

$122 Million

    Multiple

Return on Cost

Exit Cap Rate

Internal Rate of Return

 2.39x

5.09%

4.05%

19.05%

With the new proposed Google Village only 350 yards away, this property is in a prime location in downtown San Jose. With construction scheduled to start in Q2 of 2021, the final product will include 175,000 square feet of office space and 8,000 square feet of retail space, activating the street level in this historic Delmas neighborhood. Creating new Class A office next to what is planned to be Google’s largest campus in the world, and within walking distance to Diridon multi-modal station (the largest transportation hub on the west coast), this property will be very attractive to large, single tenant users.

Office

Retail Space

Transaction Status

Close of Escrow

175,000 SF

3,000 SF

Signed Joint Venture Agreement

March 15, 2021

    Purchase Price

Project Cost

Value at Stabilization

Profits

 $8.9 Million

$150 Million

$234 Million

$84 Million

    Multiple

Return on Cost

Exit Cap Rate

Internal Rate of Return

 2.61x

7.42%

5.53%

21.14%

Right in the heart of downtown San Jose, across from City Hall and a mere 100 yards from the future Bay Area Rapid Transit (BART) Station, this property is ideally located. It will feature 360,000 square feet of high-rise office space and 8,000 square feet of ground floor retail space. Located within walking distance from downtown amenities, businesses, restaurants and VTA light rail, the addition of BART will truly make this project the definition of Transit Oriented Development. Single tenant users, looking for the perfect blend of an urban environment in Silicon Valley and Transit Oriented Development, will be eager to move in to this project that is as close as they can get to Main and Main. The land is pre-zoned and pre-general planned for mixed use, construction is slated to begin in Q4 of 2020.

Office

Retail Space

Transaction Status

Close of Escrow

360,000 SF

8,000 SF

Signed Purchase and Sale Agreement

July 7, 2019

    Purchase Price

Project Cost

Value at Stabilization

Profits

 $16.5 Million

$308 Million

$531 Million

$233 Million

    Multiple

Return on Cost

Exit Cap Rate

Internal Rate of Return

 3.07x

7.46%

5.02%

25.17%

With a shortage of quality options in senior housing, this location will become the only Memory Care Facility in downtown San Jose. This positive community asset is also located in a highly-coveted position only 200 yards from the planned Google campus. Construction on this property is expected to start in Q4 2020 with a projected profit at sale of $25 million. This new facility highlights Urban Catalyst’s commitment to creating a positive social impact and making a difference in our local community. The land is pre-zoned and pre-general planned for mixed use, construction is slated to begin in Q4 of 2020.

Assisted Living

Memory Care

Transaction Status

Close of Escrow

50 Units

34 Units

Signed Purchase and Sale Agreement

June 1, 2019

    Purchase Price

Project Cost

Value at Stabilization

Profits

 $7.8 Million

$30 Million

$55 Million

$25 Million

    Multiple

Return on Cost

Exit Cap Rate

Internal Rate of Return

 3.34x

10.0%

5.75%

25.49%