{"id":265815,"date":"2026-04-13T17:12:22","date_gmt":"2026-04-13T17:12:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/265815\/"},"modified":"2026-04-13T17:12:22","modified_gmt":"2026-04-13T17:12:22","slug":"san-jose-office-tower-team-scouts-for-multiple-tenants-for-1st-time","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/265815\/","title":{"rendered":"San Jose office tower team scouts for multiple tenants for 1st time"},"content":{"rendered":"<p>SAN JOSE \u2014 The real estate team behind a downtown San Jose office tower has decided to scout for multiple tenants for the first time, a strategy shift that could help bring more workers to the city\u2019s urban core.<\/p>\n<p>Jay Paul Co. and its marketing team from commercial real estate firm Newmark have switched gears in their efforts to land tenants for the <a href=\"https:\/\/www.mercurynews.com\/2024\/11\/05\/san-jose-office-build-develop-property-real-estate-economy-tech-jobs\/\" rel=\"nofollow noopener\" target=\"_blank\">tower at 200 Park Ave.<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" lazyautosizes lazyload\" alt=\"The building at 200 Park Avenue in downtown San Jose, Calif., on Wednesday, Feb. 11, 2026. (Shae Hammond\/Bay Area News Group)\" width=\"4798\" data- src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/04\/SJM-L-OFFICEOUTLOOK-5.jpg\" data-attachment-id=\"12470061\" \/>Entry area of the 200 Park office tower, seen in February 2026.\u00a0(Shae Hammond\/Bay Area News Group)<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\" lazyautosizes lazyload\" alt=\"200 Park, a 19-story office tower totaling 971,000 square feet, located at 200 Park Avenue in downtown San Jose, as seen on July 19, 2025.(George Avalos\/Bay Area News Group)\" width=\"2500\" data- src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/04\/SJM-L-SJDT200PARK-01.jpg\" \/>200 Park, a 19-story office tower in downtown San Jose, seen in August 2025.\u00a0(George Avalos\/Bay Area News Group)<\/p>\n<p>Newmark executives Phil Mahoney and Mike Saign and real estate firm Jay Paul Co. had initially sought a single tenant, or possibly two tenants at most, to fill the building at the corner of Park Avenue and South Almaden Boulevard.<\/p>\n<p>\u201cWe will look at one- to two-floor tenants at 200 Park,\u201d said Mahoney, an executive vice chairman with Newmark.<\/p>\n<p>The increased flexibility means tenants that don\u2019t require hundreds of thousands of square feet could find new workspaces.<\/p>\n<p>\u201cTenants of a full-building size don\u2019t grow on trees, and Jay Paul and Newmark should definitely do multi-tenant leasing there,\u201d said Mark Ritchie, president of San Jose-based real estate firm Ritchie Commercial. \u201cIt\u2019s the nature of a downtown to have multiple tenants in a building versus large suburban offices with a single tenant.\u201d<\/p>\n<p>The <a href=\"https:\/\/200parksj.com\/\" rel=\"nofollow noopener\" target=\"_blank\">19-story building contains 971,000 square feet<\/a> of office spaces on 15 of its levels. The 15 levels work out to roughly 64,700 square feet of space per floor.<\/p>\n<p>\u201cSmaller spaces for tenants raise the odds,\u201d Ritchie said. \u201cIt\u2019s time to see some leasing at 200 Park.\u201d<\/p>\n<p>Office vacancy levels for downtown San Jose have been high in recent years, roughly 30% as of the end of 2025.<\/p>\n<p>\u201cDowntown San Jose needs office tenants,\u201d Ritchie said.<\/p>\n","protected":false},"excerpt":{"rendered":"SAN JOSE \u2014 The real estate team behind a downtown San Jose office tower has decided to scout&hellip;\n","protected":false},"author":2,"featured_media":265816,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[184,387,7,8,3010,1335,4978,1533,181,23,100,3012,388,88,90,89,5406,198,94685,200,1970],"class_list":{"0":"post-265815","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-san-jose","8":"tag-bay-area","9":"tag-business","10":"tag-california","11":"tag-california-news","12":"tag-commercial-real-estate","13":"tag-development","14":"tag-downtown-san-jose","15":"tag-keywee","16":"tag-latest-headlines","17":"tag-local-news","18":"tag-news","19":"tag-office-buildings","20":"tag-real-estate","21":"tag-san-jose","22":"tag-san-jose-headlines","23":"tag-san-jose-news","24":"tag-san-jose-real-estate","25":"tag-santa-clara-county","26":"tag-social-alert","27":"tag-south-bay","28":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/265815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=265815"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/265815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/265816"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=265815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=265815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=265815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}