Electric vehicle manufacturing firm NIO USA has signed a 201,500-square-foot lease with Zanker Road Partners, an affiliate of Oakmont Corporation, at 3151 Zanker Road in North San Jose. The office will serve as the firms headquarters office and it’s research and innovation center, which includes research and digital development, testing, assembly, warehousing and operations. NIO signed a 10-year lease term at the office.

Following the pandemic, San Jose has attracted healthy office demand from technology companies, like NIO. In May, a report from Marcus & Millichap predicted that stability in tech sector jobs will pave the way for new hiring in secondary positions, ultimately supporting recovery in the market’s office sector with the creation of 41,900 new jobs created this year in the San Jose market, with payrolls increasing by 3.9%. Several companies are playing a role in the job growth. During the pandemic, tech companies retained a large share of their staff, and office-using companies were able to maintain staff levels within 1% of pre-recession numbers at the end of the first quarter this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.