Newmark Knight Frank moves into Santana Row
Call it San Jose’s Broker Row.
The coming move of Newmark Knight Frank to Santana Row brings another powerhouse real estate brokerage to the city’s retail and dining hub.
Newmark announced it had signed a lease to occupy 18,451 square feet at 3055 Olin Ave., in a space above Park Valencia hotel. The brokerage is currently located in Santa Clara and expects to make the move this summer.
“It’s great to plant our flag at Santana Row,” said NKF President, Northwest Region Charles E. Seufferlein. “The location makes us even more accessible to regional, national and global clients with real estate needs in Silicon Valley and beyond.”
Newmark’s addition to the row is another example of professional and tech office tenants choosing to locate in mixed-use environments that combine residential, retail, food and entertainment. Big data firm Splunk last year moved into 234,000 square feet at Santana Row. Federal Realty Investment Trust, Santana Row’s owner, is under construction on a 284,000 square foot office building, being marketed by Newmark’s Todd Shaffer, Tracey Solari and Randy Gabrielson.
With the Newark deal, the Santana Row neighborhood is now home to no less than four real estate brokerages: Cushman & Wakefield is at 300 Santana Row; Savills Studley is down the road at 550 S. Winchester Blvd.; and Avison Young recently opened an office at 2880 Stevens Creek Blvd. (Colliers International and CBRE have their offices in Downtown San Jose; Transwestern is out by the Airport.)
Newmark’s Silicon Valley office has long been intimately tied to the growth of the region’s tech sector, helping facilitate growth for most of the Valley’s marquee technology companies at one time or another. Today its service lines are strong in landlord representation, tenant rep, retail, land, and investment sales.
The company has 12 offices located throughout Northern California. According to the Silicon Valley Business Journal, Newmark Knight Frank is the largest commercial real estate firm in Silicon Valley, with 115 agents in local offices. It handled 915 transactions in 2017 representing 13.03 million square feet of space.