SAN JOSE — Vespaio, a prominent mixed-use project in downtown San Jose near the site of Google’s village, has landed its first retail tenants, offering hope that the area’s commercial center is reviving despite the coronavirus.
Mayweather Boxing+Fitness, a fitness concept created by famed boxing champ Floyd Mayweather Jr.; and The Preserve, a high-end plant shop, have both signed leases at Vespaio, located at 130 Stockton Ave. in downtown San Jose.
“It’s great to have these companies as retail tenants,” said Mark Jones, an executive managing director with Hudson Cos., a veteran real estate firm that developed Vespaio.
Both of the retail leases are for ground-floor spaces in Vespaio, which is located around the corner from the footprint of Google’s mixed-use neighborhood of office buildings, homes, shops and restaurants near the Diridon train station and SAP Center.
“Our new retail tenants will benefit both the Vespaio and the downtown generally,” Jones said.
Mayweather Boxing+Fitness leased roughly 1,700 square feet and The Preserve leased about 1,100 square feet, according to Jones.
The transactions mark the first retail tenants for Vespaio, a seven-story development with about 162 residential units in downtown San Jose. The complex is across the street from a bustling Whole Foods Market on Santa Clara Street and a short distance from the busy restaurant and retail sites of The Alameda.
About a year ago, in January 2021, Hudson Cos. disclosed the first office tenant in the building, which is near the corner of Stockton Avenue near West Santa Clara Street.
Surfaceink, a pioneer in product design and engineering for consumer electronics and tech firms, leased about 7,000 square feet in the Vespaio complex.
The office space that Surfaceink leased represents about half of the second-floor spaces in the complex.
“Surfaceink has occupied its space but not everyone has returned to the office,” Jones said. “They are bringing a really cool vibe to the building.”
Vespaio also is steadily adding residents as tenants in the complex. About a year ago, Vespaio’s apartments were 28% leased. That number has climbed steadily.
“We are about 90% leased now,” Jones said. “We are very close to fully leased.”
