TikTok agrees to sublease big San Jose tech building, preps offices
Published in Home and Consumer News
A timeline for TikTok’s move into the 1143 Coleman building wasn’t disclosed. TikTok, however, is preparing the interiors of the offices for its occupancy.
“Certain tenant improvements will be made on this property,” the county real estate records stated.
In 2020, an affiliate of Blackstone Real Estate Advisors paid $275 million for three office buildings in Coleman Highline. Blackstone’s purchase included the office buildings at 1143 and 1155 Coleman, an amenities building at 1149 Coleman totaling 25,000 square feet, and a parking garage on nearby Champions Drive.
Despite the shifting occupancies, all of the office buildings in the Coleman Highline complex are producing rental income since they are all being leased.
One thing appears certain, however: TikTok is in expansion mode in the area.
The TikTok and ByteDance sublease agreements have filled up 820,600 square feet of office space at Coleman Highline. That’s potentially enough space for 3,200 to 4,100 tech workers.
In 2021, London-based AGC Equity Partners, an investment firm, paid $780 million for the office buildings at 1193 and 1199 Coleman Avenue.
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