Uber co-founder eyes downtown San Jose historic building

Uber co-founder and former chief executive Travis Kalanick’s new realty investment enterprise has obtained a contract to purchase the old Hank Coca’s Furniture store and Odd Fellows building at 82 E. Santa Clara St. The building became available after Leisure Sports decided it wanted a different downtown location a couple of blocks away.“We are in contract to sell the furniture store building,” said Patrick O’Brien, chief financial officer with Leisure Sports.O’Brien declined to identify the buyer. However, multiple individuals with knowledge about the deal said that the buyer is a group led by Kalanick, who co-founded Uber but eventually exited the ride-hailing tech company under a cloud of controversy.Kalanick could not be reached for comment. However, in a March 2018 tweet, Kalanick referred to his “new gig” that’s underpinned by a fund called 10100 Fund, which has a focus on redevelopment of real estate assets. One of the first investments by the $150 million fund was City Storage Systems, according to the tweet.“Of particular interest are City Storage Systems’ leading B2B initiatives, CloudKitchen and CloudRetail, focused on real estate acquisition and development for the food and retail service industries,” Kalanick said in his tweet.

Source: Uber co-founder eyes downtown San Jose historic building

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
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