SAN JOSE — The Santa Clara Valley Transportation Authority is eyeing the purchase of a downtown San Jose building that could become a security operations hub for the transit agency.
The VTA is interested in buying an office building at 70 North Second Street, according to documents prepared for one of the agency’s board meetings.
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The transit agency expects to spend $15 million in “acquisition, preparation and move-in costs” in connection with the VTA’s purchase of the 70 North Second building.
The office building totals 23,500 square feet, CBRE, a commercial real estate firm, stated in a marketing brochure for the property.
VTA’s future Security Operations Center would be located at the 70 North Second building.
In 2018, Wrike, a software company, leased the 70 North Second office site with much fanfare and a formal ribbon cutting. The terms of the rental agreement, including the length of the lease, were unknown.
Two Campbell-based family trusts, the Conrad Trust and the Aviato Trust, own the North Second Street property.
In January 2024, the 70 North Second office building had a value of $11.8 million, according to documents on file with the Santa Clara County Assessor’s Office.
The VTA’s interest in the Second Street property comes at a time when the transit agency has completed a downtown San Jose purchase that paves the way for the new Transportation Authority headquarters.
In May, the transit agency officially bought an office tower in downtown San Jose that will serve as the VTA’s future headquarters.
The VTA paid $63.7 million for the 17-story tower, which totals 390,000 square feet. The headquarters high-rise that the VTA bought is at 488 South Almaden Boulevard.
The transit agency intends to occupy most of the 17-story tower on South Almaden Boulevard, which is next to the San Jose Convention Center.
The VTA also hopes to find one or more tenants to lease up to seven floors of the South Almaden tower.