Acrisure Leases 29,000 SF Office Space In San Jose's One Santana West
3155 Olsen Drive
Building Size
29,000 SF
Asset Type
Office
Closing
Dec 15, 2023
AI
Acrisure, a Michigan-based financial tech company, has leased 29,000 sq ft in One Santana West, an eight-story office building in San Jose owned by Federal Realty Investment Trust. The lease transaction was closed on December 15, 2023. The property is located at 3155 Olsen Drive in San Jose and is part of the San Jose market. One Santana West offers a total of 29,000 sq ft of office space.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 3155 Olsen Drive, San Jose
- Market: San Jose
- Square Footage: 29,000 sq ft
Acrisure, represented by Jennifer Anderson, has chosen One Santana West to consolidate its local offices. The move is motivated by the location's appeal, Santana Row amenities, and proximity to the airport. Jennifer Anderson, one of Acrisure's managing partners, has emphasized these factors as key considerations for the company's decision.
Players
San Jose Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
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