SAN JOSE — A inventive gambit by Goodwill of Silicon Valley has enabled it to assist different nonprofits arrange store within the huge San Jose workplace constructing that Goodwill purchased earlier this 12 months.
Abode Companies, a nonprofit devoted to ending homelessness, has turn into the primary tenant in Goodwill’s headquarters constructing at 1600 Know-how Drive in north San Jose.
“We’re transforming this building into a hub that will deliver meaningful impact for people who need it most,” stated Christopher Baker, chief govt officer of Goodwill of Silicon Valley.
Goodwill of Silicon Valley paid $17 million in January 2025 to purchase the eight-story, 198,000-square-foot workplace constructing that has turn into the group’s headquarters.
The nonprofit purchased the constructing at an enormous 82% low cost in contrast with the constructing’s worth of $94.2 million in January 2025, as calculated by the Santa Clara County Assessor’s Workplace. An assessed worth is only one metric that can be utilized to gauge a constructing’s price. An appraisal, which usually isn’t made public, may also present a worth snapshot.
Goodwill of Silicon Valley gained possession of the constructing by buying a delinquent mortgage levied on the property after which foreclosing on the failed mortgage. A $10 million reward from MacKenzie Scott, an writer and philanthropist, supported Goodwill’s buy deal.
“We embrace Goodwill’s vision to transform the space into a hub for local nonprofits to share ideas and fulfill their collective missions in a spirit of cooperation,” stated Vivan Wan, chief govt officer of Adobe Companies.
Adobe Companies will lease a full flooring within the eight-story constructing. Abode Companies signed a five-year lease with Goodwill of Silicon Valley at a below-market charge.
“Goodwill of Silicon Valley’s mission to help people overcome employment barriers is at the heart of this real estate decision,” stated Erik Hallgrimson, chairman of the Board of Goodwill Silicon Valley. “Our new headquarters will enable us to fulfill our mission more efficiently, befitting our immediate and future needs.”
The lease by Adobe Companies brings collectively workforce improvement and housing companies underneath one roof within the new Goodwill headquarters, the 2 nonprofits famous.
“It’s a practical, results-driven model for strengthening the social and economic fabric of Silicon Valley,” stated Trish Dorsey, Goodwill of Silicon Valley’s vice chairman of group engagement.
