The City Council moved out after deciding to retrofit thebuilding in the wake of the 1989 Loma Prieta earthquake, buteventually decided the work was too expensive and put the buildingup for sale in 1996. The 11-story City Center building, located onFoothill Blvd., was sold to Eikon for $4 million earlier thisyear.
Eikon, which owns buildings in Oakland and San Francisco as wellas Texas, plans to retrofit and renovate the building, then rent itout as office space. Eikon estimates that work will be completed ina year.
The space is being marketed by Grubb and Ellis in San Jose. Thelisting broker said one potential tenant is already interested, butwould not indicate the tenant's identity. Rent will be $3 to $3.50per sf -- low compared to much of Silicon Valley and the BayArea.
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