Stuart Shiff Of DivcoWest Leases Office Space To Saeed Amidi Of Plug And Play In San Jose
2 West Santa Clara Street
Building Size
6,200 SF
Asset Type
Office
Closing
Apr 3, 2025
AI
The property asset involved in this transaction is an office space located at 2 West Santa Clara Street in San Jose. The asset encompasses a total of 6,200 square feet and is classified as office space. The transaction marks the opening of an AI Center for Excellence on the eighth floor of the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 2 West Santa Clara Street
- Market: San Jose
- Landlord: Stuart Shiff - DivcoWest
- Tenant: Saeed Amidi - Plug and Play
The key individuals involved in this deal are Stuart Shiff, representing DivcoWest as the landlord, and Saeed Amidi, who leads Plug and Play as the tenant. Plug and Play has initiated this partnership with local officials and San Jose State University to promote an AI startup ecosystem. Plans have also been mentioned for creating an AI incubator showroom at 12 South First Street.
Players
San Jose Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93