SAN JOSE — A large production and industrial complicated could sprout on a San Jose website that a advancement undertaking has just acquired, freshly submitted town options show.
Rockpoint ordered the 10.2-acre residence in south San Jose for $15.7 million on March 31, in accordance to documents submitted the exact same day with the Santa Clara County Recorder’s Business.
The house, which Rockpoint bought in an all-hard cash deal, is found at 865 Embedded Way, the county information show. The web site is in close proximity to two freeway interchanges that join to U.S. Freeway 101.
Oppidan, a enhancement husband or wife for Rockpoint, filed a proposal on April 27 with San Jose metropolis officials to construct a large creating on the Embedded Way house that would accommodate production or industrial functions.
Boston-primarily based Rockpoint, which is a private fairness authentic estate financial commitment business, had earlier fashioned an alliance with Oppidan to create industrial web pages in the United States.
The building could full 121,900 square ft, according to the paperwork on file with the city.
The industrial and production sophisticated would be one particular story superior, the city data demonstrate.
Developers have been purchasing large chunks of land in south San Jose in the latest several years.
Duke Realty, one particular of the nation’s most important builders, is among the energetic prospective buyers.
The desire by developers and investors in this element of San Jose may possibly be driving rates bigger in the location.
In the case of the Rockpoint acquire, the seller, a genuine estate partnership centered in Southern California, bought the land in 2019 for $4 million, county files display.