Bank of Italy Tower — Sale in San Jose, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: San Jose, CA 95113

Description

For the first time in decades, a transformational opportunity is available at one of the Bay Area’s most iconic landmarks. Located at the premier corner of First Street and Santa Clara Street in downtown San Jose. The historic Bank of Italy building presents an unprecedented ±20,000 square feet of former bank hall space with soaring clear heights, along with an additional ±20,000 square feet of upper level office. Enhanced with a new 5-megawatt electrical feed, this architecturally significant space offers unlimited potential for visionary tenants seeking to create something extraordinary. Whether envisioning a cutting-edge demonstration facility, mission-critical data center, or innovative mixed-use concept, the enhanced infrastructure and prime visibility position this offering among the most compelling adaptive reuse opportunities in Silicon Valley. The combination of historic character, modern utility capacity, and unparalleled street presence creates a rare platform where imagination becomes reality in the heart of the nation’s technology capital.

Market Context

This office in San Jose, CA is listed for sale. It has been on the market for 78 days. Compare it against other office listings for sale in San Jose, CA — view the full market.

As of Q1 2026, the Silicon Valley office market showed a 2.9% vacancy rate, average asking rents near $20.16/SF/yr, rents up 4.3% year over year, and cap rates around 6.2%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

What is the typical cap rate for office in Silicon Valley?
About 6.2% as of Q1 2026, per multiple brokerage reports.
Is the Silicon Valley office market tightening or softening?
Vacancy is around 2.9%, with asking rents rising year over year (Q1 2026).

Contact

Explore this market

Similar Office for Sale in San Jose, CA