Verizon Wireless on Tuesday announced it will co-develop and lease to purchase a portion of the Coleman Highline development in San Jose, where its Verizon Media team will work.
The company plans to employ 3,400 people in about 640,000 square feet of office space at the Coleman Highline campus, including 2,400 workers that are currently in the company’s Sunnyvale outpost.
“We are embarking on the next chapter of Verizon Media’s journey here in Silicon Valley,” said Guru Gowrappan, chief executive officer of Verizon Media. “This move will allow us to build a fully customized and sustainable new campus from scratch with employees being a part of this journey helping to design their workplace of the future. My goal is to bring a new energy to our home and ensure it is best suited to the teams’ needs and culture.”
Verizon is going to lease essentially three buildings at Coleman Highline: One big office building that was initially slated to be two structures in early designs for the project, an amenities building and a welcome center on site, which will be a very small structure. Plans for the project have already been approved by the city of San Jose.
“The location will leverage Verizon’s industry-leading wireless and fiber network capabilities to create a next-generation innovation hub in Silicon Valley,” according to a Verizon Wireless release on Tuesday.
Early visions of Coleman Highline was slated to have hotel, retail and eight office buildings totaling 1.5 million square feet. But Curtis Leigh, a principal at Cupertino-based at Hunter Storm Development, said the developer’s approvals for the project could allow the company to potentially nix a hotel and some of the retail space in favor of office space if demand exists for the additional space. That could make the office portion of the development come to up to 2.2 million square feet in all.
And demand may very well be there. Nearly 735,000 square feet in four office buildings and an amenities building has already been claimed by video streaming technology company Roku, and much of that space isn’t completed yet.
“It is really exciting to finally see our early on dream of this site become a reality with two incredible tech tenants: with Roku and Verizon on our site,” Leigh said. “We are obviously really excited to put this deal together and build it for them over the next two years.”
Verizon’s buildings are set to break ground this fall and be completed in 2021, while the buildings that Roku is slated to move into are already either completed or currently underway.
Contact Janice Bitters at [email protected] or follow @JaniceBitters on Twitter.
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