SAN JOSE — A major production and industrial elaborate could sprout on a San Jose site that a development venture has just bought, recently submitted city strategies demonstrate.
Rockpoint Team ordered the 10.2-acre house in south San Jose for $15.7 million on March 31, according to paperwork submitted the very same working day with the Santa Clara County Recorder’s Office.
The property, which Rockpoint purchased in an all-income offer, is positioned at 865 Embedded Way, the county information clearly show. The web-site is near two freeway interchanges that hook up to U.S. Freeway 101.
Oppidan, a advancement spouse for Texas-based mostly Rockpoint Team, submitted a proposal on April 27 with San Jose city officers to build a significant setting up on the Embedded Way assets that would accommodate producing or industrial operations.
Boston-based mostly Rockpoint, which is a non-public equity serious estate expenditure company, experienced beforehand formed an alliance with Oppidan to create industrial web-sites in the United States.
The creating could complete 121,900 square toes, according to the documents on file with the town.
The industrial and production elaborate would be 1 story high, the city data demonstrate.
Developers have been obtaining significant chunks of land in south San Jose in current several years.
Duke Realty, 1 of the nation’s largest builders, is among the the energetic consumers.
The desire by builders and buyers in this portion of San Jose may possibly be driving price ranges larger in the space.
In the situation of the Rockpoint acquire, the seller, a actual estate partnership based in Southern California, acquired the land in 2019 for $4 million, county documents demonstrate.