It’s the way we think 
that sets us apart.

TMG Partners has been in the business of developing award-winning, financially-successful, community-based real estate for 40 years. As much as we have accomplished over the last four decades, we believe it is the way we THINK about our region, the risks we manage, the critical timing of our projects and the value we create that sets us apart.
Localism

Real Estate is
a local business.

No, really.

The San Francisco Bay Area is an extremely diverse real estate marketplace with countless micro-business climates teeming with possibility. But you have to be here—and know here—to make the most of the opportunities all around us. Having been exclusively committed to the Bay Area for four decades, we have developed a keen local intuition which gives us a unique advantage in recognizing both the opportunities and risks in this complex market.
Regionalism

We Think 
Mega

If we try to solve our land use problems by focusing
only on the nine Bay Area counties, we will fail.

Michael CovarrubiasChairman & Co-CEO

As the Bay Area’s economy has grown over the last four decades, so too has its challenges—particularly related to transportation, housing, affordability and climate change. To plan for growth of 4 million more people in the next third of a century, TMG is thinking bigger, beyond our nine Bay Area counties, and working on longer term strategies to create greater connectivity across our entire megaregion.
Timing

It’s got to work at low tide as well as high tide.

Some of our best deals are the ones we didn’t do.

Matt FieldCo-CEO

Almost anyone can make money in a positive economic climate. But it takes discipline, depth of market knowledge and experience in all major product types to know when to buy and when to sell. The most profitable deals can be the ones you decide just don’t make sense or are outbid by an “out of town” competitor. Because we are active in our markets on a daily basis, TMG Partners has managed a portfolio through 40 years of market cycles that works in all phases and has withstood the sands of time.
Vision

huh?

Once it’s obvious, it’s too late.

Cathy GreenwoldSenior Advisor

If you wait for the statistical proof to confirm real estate opportunities, you’re looking backwards. TMG Partners has cultivated an approach to studying the business landscape that reveals market opportunities before they become obvious. Our contrarian investment strategy balances optimism and caution with the intent of turning forward-looking investments into no-brainers.
Returns

Redefining IRR

Our measure for success goes beyond profit.

Lynn TolinChief Operating Officer &
Executive Vice President

Most investment professionals have a clear understanding of IRR: Internal Rate of Return, a purely financial measurement of performance. At TMG we use a different definition. For us, IRR means balancing Integrity, Relationships and Results. We measure every aspect of our business through this lens to ensure our partners, communities, tenants and buyers are treated with the highest degree of respect and responsibility while we consistently deliver superior financial performance.
Think
Localism
Regionalism
Timing
Vision
Returns
Close

Close

 

News & Awards.

TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.
San Jose approves 1 million-square-foot office development near Diridon Station, future Google campus
Silicon Valley Business Journal
San Jose approves 1 million-square-foot office development near Diridon Station, future Google campus
One of the largest proposed projects in downtown San Jose has gotten its final approval from city officials. The entitlements come as the two Bay Area developers behind the project start branding the future corporate campus and prepare to dig in on construction.

San Francisco-based TMG Partners and San Jose-based Valley Oak Partners are slated to start construction next year on a three-building development that would add up to about 1 million square feet of new development at 440 West Julian St. It's a project they’ve newly named Platform 16, which they say they will open tenants sometime in 2021.

San Jose Mayor Sam Liccardo praised the investment by the two developers in a statement on Monday: “This planned development will help bring thousands of jobs into our city center with easy access to public transit,” he said, adding that the development also includes “a number of public space improvements that will help connect the Guadalupe River Park to Platform 16 and the rest of the Diridon Station area.”

Indeed, many developers in and around downtown San Jose are focusing in on the city’s largest transit hub, known as Diridon Station, because it sits smack-dab in the middle of where Alphabet Inc.-owned Google and its Texas-based development partner, Trammell Crow, have been eagerly scooping up real estate. The two giants are planning a potential mixed-use campus where up to 20,000 Google employees could eventually work among retail-lined streets bisected by an “eco-walk” and new residential units.

So far, thousands of new residential units and millions of square feet of office space has been proposed in the city's downtown and around the Diridon Station area.

“The area around Diridon Station is poised to become our megaregion’s next major innovation hub,” TMG Chairman and CEO Michael Covarrubias said in a statement Monday. “Platform 16 is well-aligned with the Diridon Station Area Plan’s bold framework to integrate open space, transportation, and development to meet the evolving needs of the region’s technology and business community and its employees.”

Last year, the San Jose City Council voted to approve a rezoning of TMG and Valley Oak's property from industrial to what the city calls “Transit Employment Center,” zoning, which allows for office and higher-density development. Now that it is approved to move ahead, the three-building development would replace a slew of industrial structures and parking spaces on a nearly 5.5-acre site bounded by Autumn Parkway, North Autumn and West Julian streets.

When the project is complete, the property will instead be filled with a set of six-story, modular-looking office buildings, each with large windows and tan, wooden-looking finishes on the outside. Renderings show upper floor setbacks turned to patio space outfitted with plants and trees.

TMG and Valley Oak’s current plans show the three buildings would vary vastly in size. The smallest would span 157,000 square feet, while the next-largest building would offer 367,000 square feet of office space. The largest office building would reach nearly 500,000 square feet. Floorplates in the development would range from 27,000 square feet to 90,000 square feet.

City plans show that the development group is looking to consolidate the more than two dozen parcels on the site into four — including one for each building. The site would also include four levels of underground parking with about 2,264 parking spots, which would come with its own condominium map, meaning the parking could be split up and sold separately, if desired down the road.

New York-based Kohn Pedersen Fox Associates is designing the project.

A source familiar with the plans said earlier this year that the group didn’t yet have a general contractor locked in place, but plans submitted to the city in December name Milpitas-based Devcon Construction Inc. as the pre-construction contractor. Those plans also name San Francisco-based The Guzzardo Partnership as the landscape architect.

Mark Schmidt, managing director at CBRE Group Inc., is marketing the project.

“Large technology companies today realize the importance of their space to attract talent and retain employees,” Schmidt said in a statement Monday. “Platform 16’s unique architecture, with its exceptionally tall ceiling heights, expansive floorplates, and multiple outdoor terraces, brings a level of design to San Jose not seen before, providing an opportunity for companies to create a workplace that sets them apart from the competition.”