T
he Trade Desk, a digital advertising company based in Ventura, has signed a lease for the 17th floor at Fairmont Plaza in Downtown San Jose. The 18-story office tower is located at 50 West San Fernando Street and will be home to the company after it replaces the Silicon Valley Capital Club, which is set to close on December 31.
The club, occupying the 17th floor for 34 years with a restaurant, has seen declining membership due to remote work. The Capital Club cited economic reasons for its closure in a message to members. "This decision was not made lightly and reflects the current circumstances that have affected our operations in the post-COVID era," they stated.
The Trade Desk will double its current footprint of 17,000 square feet with the move, expected to take place mid-next year after renovations. The building's landlord plans to bring in a new restaurant next year, which will occupy KQED-FM's former office space. This California concert bar, lounge, and cafe is set to open in the middle of next year.
Fairmont Plaza is roughly 80% leased, with UBS Group moving out last year for offices at Santana Row mall. Another Invited Club in North Carolina has also announced its pending closure due to similar challenges faced by private clubs in the region.
