[email protected], a new 36-acre development featuring entertainment, restaurants, hotel and retail in San Jose, CA, held a ceremony today with their anchor tenant Topgolf, a high-tech sports entertainment venue.
Nick Whitstone of CBRE’s San Jose office—who arranged the initial sale of the land site, which closed in January 2017—is also the listing agent for the subsequent land parcels that were created under a master planned development permit. Topgolf, who has signed a long-term land lease on one 13-acre parcel, will be the first to begin construction on what will be the largest and most advanced location for their chain. Nick, along with the rest of CBRE, would like to congratulate both Topgolf and Terra Development, and look forward to the grand opening in the fall of 2019.
“Topgolf is the perfect complement to our new [email protected] development here in the dynamic neighborhood of Alviso and city of San Jose. Topgolf will serve as a destination place and provide local jobs among the many great features in this community including the nearby new Levi’s stadium which hosts the NFL San Francisco 49ers,” said Gary Gauba, Chairman of Terra Development which owns [email protected] and whose principals include Jag Kapoor, President and Sean Pathiratne. “Most importantly, Topgolf will serve as the signature place for great family-friendly and corporate entertainment.”
Mayor Sam Liccardo was also in attendance and participated in the ribbon cutting ceremony. "I can already hear the cheers of residents across Silicon Valley celebrating the arrival of Topgolf and its high-tech sports entertainment experience," said Mayor Liccardo. “I’d like to personally thank Erik Anderson and Gary Gauba for locating this premier, internationally-recognized entertainment and event venue in San Jose, and for their generous investments in the Alviso community and our local schools.”
The 72,000 square foot Topgolf facility will serve as the primary entertainment attraction for the [email protected], which will also accommodate a 200-room hotel as well as 110,000 square feet of retail, restaurants and additional entertainment. Terra Development and CBRE are currently accepting and reviewing proposals to complete the 36-acre master planned development, which, when complete, will bring an investment of well over $100 million to the community.
“Topgolf is an exceptional choice to have in the [email protected] development; the company has found a niche product that all ages and all skill levels of golfers can enjoy,” said Mark Schmidt, Managing Director of CBRE San Jose. “With this addition, the [email protected] and the Alviso neighborhood of San Jose will become a unique entertainment destination in Silicon Valley.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.