SAN JOSE — A vast new selling center, bureau towers and residences could reinstate several of a Century film theaters nearby a Winchester Mystery House in San Jose underneath a devise to franchise a property, realty agents pronounced Wednesday.
The site being eyed for redevelopment includes a Century theaters on Winchester Boulevard nearby Interstate 280. The theaters’ domes are a informed steer in a area, and a theatres have over a decades played many blockbuster films.
A organisation of San Jose families has hired realty brokerage Cassidy Turley and a sell section Terranomics to marketplace a 11.6-acre site on Winchester Boulevard between Olin Avenue and Interstate 280, opposite a travel from Santana Row.
“There is
very good seductiveness in this site,” pronounced Todd Oliver, a partner with Terranomics Retail Services.
Potentially 500,000 block feet of sell or offices, or both, could be built during a site.
“You could build a vast selling core or have one or some-more bureau towers during a location,” pronounced Greg Davies, a partner with Cassidy Turley.
It also is probable that new homes could emerge on a property.
“The city has designated this in a ubiquitous devise as an civic village,” Davies said. “By definition, that could embody all 3 uses — retail, bureau and residential.”
The owners, handling underneath a name Winchester Investments, intend to franchise a land underneath a theaters to a destiny owner. To make approach for a intensity
offices, shops and homes, a owners would afterwards substantially move a theaters.
“This has been a site for film theaters for roughly 50 years,” Davies said.
The franchise on a theaters is about to expire, so a owners motionless to try a belligerent franchise of a skill to redevelop a site, sources said.
Retail growth has been resilient in Silicon Valley as a economy has softened over a past year or two.
Plus, vast and tiny tech companies have gobbled adult substantial stretches of bureau space in Mountain View, Cupertino, Sunnyvale, Palo Alto and Santa Clara, and now a leasing swell has spilled into North San Jose.
Across a travel from a Century theatres, Santana Row has enjoyed sprightly sell leasing. Earlier this year, renouned tradesman HM stretched a space during Santana Row, holding over a former Borders Bookstore site. Smaller retailers have also been opening shops during a sell complex.
Then in March, a principal owners of Santana Row, Federal Realty, suggested skeleton to build 3 bureau complexes and some-more sell on a site. The offices would sum 700,000 block feet and be means to accommodate about 3,000 workers if totally filled.
The brokers for a skill trust
the Century theaters parcel could be likewise successful.
“We trust this is a best remaining infill site in a West San Jose area,” Davies said.
Contact George Avalos during 408-373-3556 or 925-977-8477. Follow him during Twitter.com/george_avalos.
Article source: http://www.mercurynews.com/business/ci_23100098/shopping-mall-offices-and-homes-could-rise-at