PwC, One of San Jose's Largest Downtown Employers, Signs Long-Term Lease for Eight Floors in 'Sobrato Building'

SAN JOSE, Calif., Nov. 18, 2010 /PRNewswire/ -- PwC US, the Big Four accounting and consulting firm and one of downtown San Jose's largest employers, today announced that the firm has recommitted to its future in downtown San Jose by signing a 15-year lease from Oracle America for 209,000 square feet in the "Sobrato Building" at 488 Almaden Avenue.  Approximately 1,200 PwC partners and professionals, currently resident in 165,000 square feet of space at 10 Almaden Boulevard, will make their move into enlarged, technologically state-of-the-art facilities in June.

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Besides signaling its faith and commitment to an exciting and thriving part of the city, PwC sought out the building to accommodate its growth plans.  PwC Managing Partner Rob Gittings said the largest accounting firm in the Silicon Valley intends to increase its employment in San Jose by more than 100 persons in the coming year, and is bullish about long-term employment and financial growth.

"We're proud to be the biggest of the Big Four firms serving Silicon Valley, and of our track record serving many of the most successful companies that have emerged here.  This demonstrates our commitment to continue serving both established technology companies and venture-backed start-ups," Gittings said.

That news was greeted by San Jose Mayor Chuck Reed as good sign not only for both PwC's role as a fixture and business driver in the city, but for job growth in the San Jose economy as a whole.

"San Jose is thrilled that PwC has committed to stay and grow in Downtown San Jose," said Mayor Reed.  "PwC is a global leader, and I am delighted San Jose was able to work at the speed of business to meet their needs in this relocation.  PwC has chosen an iconic site for their new home, one befitting a worldwide innovator, and we are looking forward to their presence in Downtown for years to come."

In talking about the new workspace, Gittings noted that PwC's business and culture are based on building relationships, delivering value and winning in the global marketplace.  He said the well-known blue "Sobrato Building" (soon to be known as the PwC Building) fits that bill for both clients and office talent.

"We're building out the space, both in the enclosed offices and in the overall modern and progressive open floor plan, to enhance team collaboration and client delivery," Gittings said.   "This will be aided by advanced media sharing technologies and digital media distribution throughout the workplace."

Gittings also noted that the space will be attuned to today's highly mobile worker with "speed desks" throughout all floors and a "work anywhere" wireless network environment.  Besides efficiency, the firm also has placed a premium on environmental awareness and human esthetics.   Sustainable materials and furnishings will be utilized throughout the eight floors and the architectural design is an open and spacious one that offers ample natural light and stunning 360-degree views on all floors.  As another sign of how PwC is responding to how today's employees work, when the build-out is completed, staff will also have access to a fitness center and an interactive café in the building.

These amenities were inspired in part by the partners and staff who, over the course of the last few years, visited the potential office space and provided their opinions on locations, buildings and amenities. In selecting this space, the firm studied everything from traffic and commuting options, where our people lived in relation to the building and where our clients are located.

PwC was represented in the deal by Shane McNulty, Timothy Dempsey, and Amy DeAngelis of CB Richard Ellis.  Oracle was represented by Phil J. Arnautou of Colliers International.  

About the PwC Network

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

© 2010 PwC. All rights reserved. "PwC" and "PwC US" refers to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate and independent legal entity.

SOURCE PwC