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Retail and multifamily acquisitions ramp up as investors play the long ball

  • ​Over the past 5 years, there has been significant investment activity Downtown San Jose’s retail and multifamily sector. 2017 has seen a noticeable spike with sales volume up 52 percent from last year, focused on properties located in the Downtown San Jose core.
  • Retail and multifamily product account for 43 percent of all commercial investments over the last 24 months in Downtown San Jose. This reflects the ongoing transformation of the Valley’s CBD into a growing live-work-play urban environment that has begun to attract office tenants, especially within the tech sector.
  • News of negotiations between the City of San Jose and Google as it relates to the Diridon Station plan in addition to the future BART extension have sparked interest in the once sleepy submarket. While the redevelopment will not be an overnight phenomenon, buyers are looking to at long-term strategies by securing assets early before asset prices appreciate. Downtown San Jose will see additional acquisition activity over the next 12 months, positioning the submarket for future growth.​​

Source: JLL Research

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