2850 Stevens Creek Blvd
San Jose, CA 95128

Marcus & Millichap is pleased to bring to market a fully entitled hotel development project at 2850 Stevens Creek Blvd in San Jose, CA. This offering is a highly rare and unique opportunity to place capital in one of the highly sought after locations in the Unites States. The project proposes to develop a 10-story hotel (up to a height of 120 feet) with up to 172 guestrooms. The first floor would contain the main lobby reception area, a lounge and restaurant area, a kitchen, administrative offices, and Back of House support areas. A small amount of on-grade parking, a delivery area, mechanical/electrical/plumbing support areas and ramp to the three above ground levels of parking (floors two through four) would also be located on the ground level. Floors 5 through 9 would contain guest rooms that would range from approximately 300 to 700 square feet in size. Common outdoor areas for hotel guests are proposed to be located on floors 5 and 10. A fitness room for hotel guests is proposed on floor 5. The top floor, floor 10, would also contain a restaurant area, a kitchen, and meeting rooms. A conceptual cross-section of the proposed project is shown for references. The hotel building would be set back 15 feet from Stevens Creek Boulevard and 10 feet from S. Clover Avenue; sidewalks would be constructed along the project frontage. A passenger drop-off zone, 92 feet in length and eight feet deep, is proposed on S. Clover Avenue along the project frontage. - Seller has received all land use approvals from the City of San Jose. - Seller has submitted for plan check for a Building Permit and expects that the Building Permit will be ready for issuance in early 2019. - Seller has a Franchise Agreement with Choice Hotels International, Inc. for its upscale Cambria Brand.