The Pruneyard



The Pruneyard is an iconic Silicon Valley in-fill mixed-use project combining over 618,000 square feet of office and retail with a 171 room Double Tree by Hilton hotel in the affluent West Valley community of Campbell. When acquired by Ellis Partners, the 365,000 square foot three-building office component was well-leased with the average in-place office rents approximately 30% below market with substantial near-term rollover in a rising market. The 253,000 square foot shopping center was developed in 1969 and was also stabilized. The hotel, previously operated as an independent boutique brand, had been partially upgraded and re-flagged by Hilton shortly prior to the project purchase. All three components of the project presented the opportunity for upgrade, enhancement and/or tenant mix and revenue improvement. Utilizing its prior retail development and renovation experience as well as its directly relevant experience with upgrading all facets of the similarly-positioned Town & Country Village shopping center project in Palo Alto, the Ellis Partners team is actively involved today in holistically envisioning, designing and planning for significant enhancements to The Pruneyard.