Item 8.01 Other Events.
SJW Land Company, SJW Corp.'s wholly owned subsidiary, was
informed that one of its tenants filed a Chapter 11 bankruptcy
on January 13, 2009 and intends to liquidate its operations
through the United States Bankruptcy Court in Delaware. Such
tenant currently leases a 148,000 square foot office building
and a 346,000 square foot distribution building from SJW Land
Company in Knoxville, Tennessee under triple net leases which
have been paid through January 2009. Pursuant to applicable
bankruptcy laws and bankruptcy court rules, the tenant will have
a limited period of time to decide whether it will terminate its
office and distribution leases or sell its rights under the
leases. During the first three quarters of 2008, the net rent
income contributed an aggregate of approximately $0.045 to SJW
Corp.'s earnings per share. In the event that the leases are
terminated, SJW Land Company will incur all holding costs and
will seek to re-lease the premises. However, there will be no
assurance that SJW Land Company will be able to secure a new
tenant or if it is able to secure a new tenant, when this will
occur or whether the leases will be under similar terms.