San Jose's Signifyd raises $20 million

Signifyd is an e-commerce startup that specializes in fraud protection. They charge e-commerce companies a percentage fee in order to verify that purchases are coming from a legitimate source. Signifyd has protected $5.6 billion worth of transactions so far.

The company has just raised a $20 million Series B round, bringing their total amount of investment to $31 million. It's always great to see San Jose startups getting traction and the funding needed to continue to grow.

Signifyd is headquartered at 2590 North 1st Street.

Source: SVBJ

Another office campus planned for North San Jose

I have already lost track of how many office projects are proposed in North San Jose, they just keep on coming in. Lincoln Property Co. is teaming up with Gemdale Corp. to make one of those projects a reality. Midpoint@237 consists of four new office buildings off of North First Street just past 237 (going towards Alviso). The buildings would total up to 415,000 SQFT and be between two to three stories with 40,000 SQFT floor plates.

While they are not as tall or dense as I would hope for a 2016 project in San Jose, it will bring more tax dollars and jobs into the area. Next door there are also plans for up to 564,000 SQFT of advanced manufacturing space--perfect for a company like oh, let's say Apple or Tesla.

Construction is expected to begin next quarter with completion expected in the third quarter of 2017.

Source: SVBJ

Sprouts and Ross will anchor a new North San Jose retail center

The San Jose area in most need of extra retail options and grocers would be in the north. Not only is that where most of are jobs are, but housing has exploded in North San Jose over that past decade. Fortunately, a new retail center called Brokaw Plaza is being built at the corner of Brokaw and Oakland Road and they announced two of their anchor stores earlier this month: Sprouts and Ross.

Sprouts Farmer's Market will take about 30,000 SQFT and is a solid options for fresh groceries. Ross will grab 25,000 SQFT and be one of the few clothing stores in the area. Both will help create a more convenient ecosystem for those that either live or work in the rapidly growing area.

In addition to those two anchors, Brokaw Plaza will have another 90,000 SQFT of retail when it is fully built out. There is no official ETA yet on when the first anchor will open.

Source: The Merc

Apple's Big Plans for San Jose

A couple weeks ago the San Jose city council formally and unanimously approved a 15 year development agreement with Apple. This would give the company the ability to build up to 4.15 million SQFT of office space in North San Jose. To put that in perspective, that would be more than all of Apple's Cupertino offices including it's new flagship headquarters. That much real estate could accommodate 16,000 well-paid tech employees.

While there is no guarantee that Apple will fully build out this much space, this agreement opens up a huge door for San Jose. If Apple continues to grow, San Jose will be the obvious partner to fill the need for large amounts of space. Given the very real possibility that Apple may enter the auto industry, the demand for several million square feet of space could become imminent. In fact, Apple is already planning to occupy two projects totaling almost 500,000 SQFT in North San Jose: the former Atmel headquarters (296,000 SQFT) and a 200,000 SQFT office building under construction. Apple could have 1,000 employees in San Jose by the end of the year.

I have a feeling that 2016 will be a great year for getting more large tech companies into San Jose. Apple and Google are paving the way for others to enter the market and join the party.

Source: SVBJ

VTA FLEX Program

One of the many challenges of public transit in Silicon Valley is that both offices and homes are spread out over a large area. This makes point-to-point transit available only in a few limited areas. VTA has just launched an innovative program called FLEX to help address this issue.

FLEX is an on-demand transit system where you use an app to request a pickup and drop-off in one of many designated service stops in North San Jose. Software will then automatically route vehicles to pick up other customers along a similar traffic route. There are no set schedules, the whole system is on-demand. Payment is even done via the smartphone app. You can think of it as a public version of UBERpool.

The vehicles that will be used for FLEX are ADA-accessible buses with capacity for 26 passengers and two bikes. Service is available Monday through Friday from 5:30am to 8:30pm and the cost is only $2 during off-peak times and $3 during peak times.

If the program is successful, you can expect other areas to get a similar service in the future. For more information click here.

What is it?

FLEX is an On-Demand, shared-ride public transit service. Other riders that have similar travel destinations may be picked up and dropped off during the course of your ride.
FLEX is ideally suited for smartphone users. Riders can use the app to request a ride.
FLEX Service Area

Scheduling a Ride

On the App – easiest
On the Web - please visit vta.ridecell.com

Service Days & Times

FLEX’s service area is approximately 3.25 square miles in North San Jose (surrounding VTA’s Tasman Light Rail Station)
Boundaries are

• North – Route 237
• South – Montague Expressway
• East – Coyote Creek
• West – Guadalupe River

Monday – Friday; 5:30 a.m. to 8:30 p.m.

• Peak Hours 5:30 a.m. – 9:30 a.m.; 3:30 p.m. – 7:30 p.m.
• The last Flex ride MUST be completed by 8:30 p.m. 

Fares*

Single Ride - $2.00 (Off-Peak Hours)
Single Ride - $3.00 (Peak Hours)

No Shows/Cancelations
Customers who fail to cancel a ride before the bus is dispatched or have failed to show up for their rides will be charged the regular fare.

You can download the VTA Flex Fact Sheet here.

FAQ

What VTA fare can I use on FLEX?
Currently you must pay for your ride using an account that you set up on the FLEX app.  Once you complete your ride on FLEX your account will be charged.  FLEX does not accept Clipper cards, VTA Monthly Passes, VTA Day Passes, VTA Express Day Passes, Cash, Eco Pass nor any other VTA forms of fare.

How do I know if I’ve been assigned a driver?
You will be notified via text message when booking through the app.  If booked over the phone, the customer service representative will let you know once you’re assigned a driver and their estimated time of arrival.  You can also check out the web or app to see real-time updates about your requested ride.

How long does it take for my driver to pick me up? Can I track my driver?
It depends on trip requests at any given time.  The web and app interface will show you an estimated time of arrival, based on the driver’s GPS location and current trip load.

Where will I wait for the FLEX bus?  Are there bus stops?
X marks the spot!  The app will provide you walking directions to the FLEX stop where you will be picked up. The stops are marked with FLEX floor decals.

Can I bring an Animal onboard FLEX?
Only service animals are welcome on FLEX.  The animal must be under the control of the passenger throughout the trip and while boarding and exiting. Service animals may sit on the floor or in the rider’s lap.  Service animals may not sit in a passenger seat.

Can I contact the driver?
No, you cannot contact the driver, but you can determine the driver’s location through the real time mapping on the app.

If I cancel my ride request, then make another one, will my request go to the end of the request queue?
Yes, every time you cancel and resubmit a request, the process starts all over again.  Your request will be put at the end of the queue and then be assigned to the next available driver.

I don't have a smart phone, can I create my account online?
Yes, you can create your Flex account through the web on this page.

*FLEX is a pilot program and the fare structure may change during and/or after this pilot program phase.  Please continue to check this page for updates.

Topgolf Considering San Jose for first Bay Area Location

Topgolf is like a collision between a driving range and a Dave & Busters. They have 20 locations across the US, which are huge regional entertainment draws and can command multi-hour wait times to get in. Each location typically has a high-tech three story driving range, multiple restaurants and bars, and business centers for corporate events. The balls have embedded micro-chips that let you know how close you came to hitting various targets on the field. Players are scored based on accuracy and distance. The experience is closer to a trendy bowling alley than a traditional driving range.

The location that Topgolf is eyeing is Pin High Golf Center in Alviso. The project could be part of a new retail center that would include up to 100,000 SQFT of retail and a 200-room hotel. This area is just down the street from the @First Shopping Center and around a mile away from Levi's Stadium and Santa Clara's planned shopping and entertainment center. Not only would it help capitalize on events happening in Santa Clara, but it would help service North San Jose where retail is still scarce.

The only other planned California Topgolf location so far is in Sacramento, and that will open in November 2016.

Source: SVBJ

San Jose-based Nutanix May IPO This Month

Nutanix offers storage and visualization solutions that are used in data centers around the globe. The company will likely be one of the first Silicon Valley IPO this year and is hoping to raise $200 million. The company currently has 1,368 employees and revenues of $241 million a year. You will be able to find them under the NASDAQ symbol of NTNX.

The company is headquartered near SJC at 1740 Technology Dr #150. The infusion of money will mean more growth for the company, additional job openings, and an opportunity for current employees to cash in some of those shares and contribute to the local economy.

Source: SVBJ

Google Signs Another North San Jose Lease!

Google is finally stepping up to the plate and joining Apple in acquiring commercial space in North San Jose. The company leased two buildings at the corner of North First Street and Trimble (2600 North First Street and 75 E. Trimble Road). This will give Google 174,000 SQFT, a rounding error compared to their Mountain View Campus.

This is actually their second San Jose lease. Google's first San Jose location was 40,000 SQFT at 2460 North First Street. That was just a dipping their toe in the water. Now they have both feet in and could potentially jump in for a swim. Google is going to need far more space than what Mountain View can provide. If San Jose proves to be a good partner for them, it will mean much larger investments in the future.

Keep in mind that Google is just one piece of parent company called Alphabet. There are many other great companies under that umbrella that could use offices located in the Golden Triangle with easy access to manufacturing facilities and semiconductor fabs (Nest, I'm looking at you).

Source: SVBJ

Apple Buys Another Building in North San Jose

It seems like Apple can't get enough of North San Jose this year. They have made yet another purchase, this time for a 70,000 SQFT former chip fab at 3725 N. First Street. It was previously used as a manufacturing facility for a semiconductor company called Maxim Integrated Products. What Apple will do with the space is anyone's guess. It seems too small to manufacture anything that Apple would put in their products, but could be used as a test lab. Perhaps Apple will tear it down to build a new facility. Either way, it is nice to see Apple continue to invest in our area.

The location is also notable. As you can see in the image below, the building could not be any closer to Samsung's shiny new North American Headquarters in San Jose. Talk about keeping your friends close and your enemies closer.

Source: SVBJ

North San Jose R&D Vacancy Finally Dips Below 10%

After a painful recession and years of recovery, North San Jose commercial space is finally back on solid footing. The last couple tech companies to move into the "golden triangle" were enough to bring the Research and Development (R&D) vacancy rate below 10% for the first time in many years. Usually development picks up substantially when vacancy is in the single digits.

The two most recent companies that moved to North San Jose are Silver Spring Networks and ForeScout. Silver Spring is a smart grid  provider that relocated from Redwood City to 190,000 SQFT on 210 and 230 W. Tasman Drive. ForeScout is a cyber security company that moved from Campbell to 95,000 SQFT at 190 W. Tasman Drive.

Source: San Jose Economy Newsletter

Kaiser is Building North San Jose Medical Offices

Oakland-based Kaiser Permanente is gearing up to develop 9.7 acres in North San Jose at the intersection of Skyport Drive and Technology Drive. The healthcare provider wants to build a 153,000 SQFT medical facility with 103 medical offices. Kaiser purchased the empty plot of land almost three years ago and has just now submitted a formal development application.

While many living in San Jose choose Kaiser as their provider, there are currently zero Kaiser facilities in the North San Jose area. Fortunately, that will soon change.

Source: SVBJ

Silver Spring Networks Moving Headquarters to San Jose

Silver Springs Networks is a company that specializes in smart grid products for energy companies as well as software to help consumers reduce their energy consumption. They have decided to move their headquarters from Redwood City to San Jose. Silver Springs will take on 191,800 SQFT of prime office space at Champion Station (210 and 230 W. Tasman Drive). The company is yet another welcome addition to North San Jose's burgeoning portfolio of tech companies.

Source: SVBJ

Broadcom Buys North San Jose Business Park

Broadcom is dropping $207 million for 26 acres in North San Jose that is already approved for up to 1.1 million SQFT in office space. They are purchasing the land from Boston Properties, which hopefully will reinvest those funds in San Jose (They have three proposed office towers in Downtown San Jose).

The location is a vacant business park at 3200 Zanker Road, next to Crescent Village. Apple now owns 80 acres of land not far away and supposedly other large deals are in the works. The North First district went from having the highest vacancy rate in San Jose to being in huge demand over the course of just five years!

Source: SVBJ

Apple Pondering San Jose Campus of up to 4.15 Million SQFT (!!!)

Apple has quietly been acquiring 86 acres of land in North San Jose stretching from Highway 101 all the way to North First Street. Finally, it sounds like their master plan is coming together. While Apple has not submitted a formal proposal for a project, they have come to a development agreement with the City of San Jose that would allow a staggering 4.15 million SQFT of development. This scale would surpass even the Apple Campus 2 project in Cupertino (the giant spaceship).

If even half of that gets built, it would have a dramatic impact on San Jose's tax base, the balance of housing/jobs in the city, and our overall brand. The only negative that stood out to me is the elimination of the height requirement on North First Street (105-feet). That means Apple will likely opt for 4-6 story buildings instead of pushing the limits of office campuses like Samsung did with their San Jose headquarters. I'm sure we'll be hearing a lot more about this one in the future.

Source: SVBJ

The Station on North First - 1.6 Million SQFT Office Project

According to Robertee from The San Jose Development Forum, Boston Properties has ramped up marketing for their largest proposed project in San Jose--"The Station on North First." The office project would include up to 1.6 million SQFT of high-end office space, 10,000 SQFT of retail, and large open spaces filled with amenities. Check out the latest renderings and highlights below.

The Station on North First Highlights

• 24.3 acre campus
• 10,000 SF of retail space
• Convenient below ground parking
• Active, transit-oriented boulevard
• 5 - 10 story buildings arranged around two programmed quads
• The Quads & Grand Boulevard link the buildings and create a cohesive urban experience
• Each campus building features a double-height Great Room
• The Great Rooms serve as main entry points and lobbies, while offering communal space that can house a variety of events
• Indoor and outdoor fitness opportunities and amenity space
• Both social and sports outdoor areas
• Visual connectivity between buildings
• Connected floor plates up to 154K SF
• Typical floor plate: 35 - 45K SF
• Retail and urban plazas on North First Street
• Social gathering and recreation quads
• Collaborative Great Rooms and amenities
• Abundant natural light

Apple Buys More Land in North San Jose!

It looks like Apple is planning something huge in North San Jose. Last week they purchased another 27 acres in North San Jose off of Carcot Avenue. This is a high visibility site fronting Highway 101 (imagine the signage possibilities).

Apple paid Ellis Partners $166 million for the land, which includes a 290,000 SQFT building that Apple was previously going to lease. The deal also gives Apple 12 acres of land approved for 650,000 SQFT of additional R&D and/or office space. This will give Apple a grand total of 70 acres in North San Jose.

Without moving a single employee to San Jose, the city already is already getting a nice payout. The city will collect over $1 million in transfer tax from the sale of the property.

In typical Apple fashion, they are being very secretive on what their true intentions are for the land. My guess is that they are going to use the space to develop "Project Titan," their electric car rumored for release in 2019. They allegedly already have 800 employees working on the car, and plan to triple that to over 2,000 employees immediately. North San Jose property would be the absolute best location for Apple to develop an electric car. Here is why:

• Millions of square feet of develop-able space that could be built to meet Apple's unique requirements. Cupertino is out of land and is more difficult to work with than San Jose when it comes to new development.
• Access to the best engineering talent in the world. The Golden Triangle is still the largest tech cluster anywhere, and you are not going to find better hardware engineers elsewhere.
• Santa Clara County is becoming a Mecca for automotive innovation. You have Tesla and innovation centers for just about every car manufacturer in the immediate area. Let's also not forget NextEV is opening an R&D outpost in the neighborhood. Most of the talent required to build next-generation vehicles is already here.
• Easy access to the San Jose International Airport.
• Easy access to Light Rail and eventually BART.
• Easy access to Highway 101 and Highway 87.
• More central location than Cupertino with more housing options and urban amenities.

Tesla now has 12,000 employees. If Apple chooses to centralize "Project Titan" in San Jose, they will need every square foot of the land they just purchased. I can't wait to see how this develops!

Source: SVBJ

Samsung's New San Jose Headquarters is Complete!

Last week Samsung officially unveiled their new 1.1 million SQFT North American Headquarters in San Jose. The ten story main building (technically two connected towers) is state-of-the-art. Each floor is no more than one staircase away from expansive outdoor gardens, the floor plates are huge, ceilings are high on every floor, and the campus has every amenity you can think of (yes, that is a putting green in the sky photographed below). 700 employees have already moved in, but the building will accommodate up to 2,000 workers.

Check out some of the best photos I have found of the new campus below.

Source: CNET

Curry Up Now and Mortar & Pestle Now Open in North San Jose!

Finally, San Jose has gotten a Curry Up Now brick & mortar restaurant! Curry Up Now has been one of my favorite food trucks for years and I was elated when they built their first restaurant near my work in San Mateo. They went on to open two additional restaurants in San Francisco and Palo Alto, but have saved the best for San Jose.

Ideally situated in the Golden Triangle, San Jose's Curry Up Now is the largest with 160 seats. Of course it offers all of their favorites such as their famous Tikka Masala Burritos, Sexy Fries, Deconstructed Samosas, and Naughty Naan--however, there will be some new items exclusive to San Jose. The San Jose location will be the only one to offer Brunch, and they created an assortment of specialties for the occasion like the Bird's Nest Samosa (photo below) and Indian-style crepes.

It gets better. The San Jose location also has a Mortar & Pestle, their Indian-themed craft cocktail bar. The only other one that exists is in San Mateo, and it's my favorite bar on the Peninsula. The drinks are designed to be paired with spicy Indian dishes and have unique flavors I have not had at any other bar before. The drinks are outstanding and are worth a trip in and of themselves.

Curry up Now is located at 3250 Zanker Road, near Patxi's and Wahoo's. The restaurant is open 11am-10pm Monday through Thursday, 11am-11pm on Friday, 9am to 11pm on Saturday, and 9am-9pm on Sunday.

Source: Eat - Drink - Play