California Miramar University has secured a 10-year lease for a 21,000-square-foot building located at 505 South Market Street in downtown San Jose. The office space is owned by Design Acquisition and the lease agreement was facilitated by Colliers International brokers, Alex Kovaleski, David Buchholz, and John Kovaleski. The lease transaction was completed with the assistance of Derik Benson from Kidder Mathews and Drew Arvay from Cushman & Wakefield, who represented Dr. Chitpasong Vazquez, the tenant.

Summary of transation details

• Property Type: Office
• Transaction Amount: N/A
• Square Footage: 21,000 SF
• Address: 505 South Market Street, San Jose
• Landlord: Design Acquisition
• Tenant: Dr. Chitpasong Vazquez - California Miramar University
• Landlord's Representative: Alex Kovaleski, David Buchholz, and John Kovaleski - Colliers International
• Tenant's Representative: Derik Benson - Kidder Mathews; Drew Arvay - Cushman & Wakefield

The lease agreement was expedited by the city's Mayor's Office and Building Department as part of an effort to revitalize the downtown San Jose area. The building will be used for educational purposes, with classes expected to start in fall 2024.