Nonprofits find cost-conscious home in United Way Silicon Valley building

United Way Silicon Valley is helping nonprofits and its own bottom line by making office space available in its San Jose building.

Gary Rummelhoff, United Way’s CFO and vice president of operations, said there’s been “an increase in new tenant activity this year because nonprofits are looking for affordable options, prefer to associate with other community organizations and enjoy the benefits of the building’s central location and large meeting rooms.”

The four-story building at 1922 The Alameda has 12 tenants currently, Rummelhoff said. The primary tenant, the YMCA, takes up the entire third floor but will soon move out because of its merger with Mid-Peninsula YMCA.

Rummelhoff said the agency is in talks with four prospective tenants at the moment. While rates can vary, a standard package — a 42-month deal — includes six months’ free rent to entice potential tenants. From that point on, rentals can range from about $1.55 per square foot to $1.60. Comparable spaces in the area can go for as much as $2 per square foot, he said.

Source: Silicon Valley / San Jose Business Journal - by Elizabeth Kim