Last week Federal Realty started working on their latest project at Santana Row--a six-story 232,000 SQFT office building next to the CineArts Movie Theater. The building is designed with loft-style soaring ceilings and the large floor plates that contemporary Silicon Valley companies love these days. The new office will also add one extra retail space (probably a cafe) and net an additional 500 parking spaces that can be used by shoppers during evenings and weekends.
Also on tap is an additional 500,000 SQFT of office space across two more buildings, one of which features 30,000 SQFT of retail. These are in the city approvals stage, so we won't be seeing shovels for either of them any time soon. When complete, they will finish the original vision for Santana Row. Fortunately, Federal Realty still has plenty of expansion options across the street.