Credit union strikes deal for new headquarters in South Bay


SAN JOSE — A credit score union has struck a deal that will permit it to shift its headquarters to San Jose and go its head offices out of Santa Clara.

KeyPoint Credit history Union has bought a two-story business setting up at 2150 Trade Zone Blvd. in north San Jose, according to paperwork filed on Aug. 16 with the Santa Clara County Recorder’s Business office.

The credit rating union will depart its latest places of work that are located at 2805 Bowers Ave. in Santa Clara.

KeyPoint paid out $7.95 million for the Trade Zone setting up in San Jose, the county property files show.

“We are delighted with the acquisition of the new facility and the possibility it delivers for new office layouts to help the hybrid operate design,” reported Brad Canfield, KeyPoint’s president and main government officer.

The north San Jose building totals 34,000 sq. ft, according to a put up on the LoopNet property company.

KeyPoint’s obtain of the workplace constructing in San Jose arrived in the wake of its sale in March of the credit union’s headquarters in Santa Clara for $37.5 million.

“The shift is a aspect of KeyPoint’s strategic adoption of the hybrid work product and optimization of its bodily HQ footprint,” the credit rating union stated in a prepared launch.

The Santa Clara constructing totals 104,000 sq. ft and is made up of just one of the credit union’s branches.

“KeyPoint is currently analyzing possibilities for relocating the Bowers Branch,” the credit rating union mentioned.

In addition to the web-site on Bowers Avenue in Santa Clara, the credit union’s branches are in north San Jose on Brokaw Street, Cupertino on North Wolfe Highway, Dublin on Amador Valley Boulevard, Milpitas on East Calaveras Boulevard, and in the Santa Barbara County city of Goleta.

At the finish of 2020, KeyPoint reported $1.5 billion in belongings, a 15.4% enhance from the $1.3 billion in belongings the credit score union reported at the conclusion of 2019, according to an formal regulatory filing by the financial business.

In 2020, KeyPoint Credit rating Union generated net money of $2.8 million, down from the $3.6 million in earnings the credit rating union noted in 2019.

The new headquarters is anticipated to be a state-of-the-artwork and eco-friendly business constructing after KeyPoint moves into the offices.

“The property (in north San Jose) is now going through renovation in preparing for occupancy in early 2022,” KeyPoint mentioned in a geared up launch.