Huge San Jose site once planned as tech campus lands Bay Area buyer

"SAN JOSE - A huge San Jose site once deemed to be a prime candidate for a high-profile tech campus has been bought by a veteran real estate firm with extensive experience in the Bay Area real estate market. The 24-acre property in North San Jose was bought for $50.5 million by an affiliate of Four Corner Properties, according to documents filed Jan. 15 with the Santa Clara County Recorder's Office. BXP, a real estate titan with a coast-to-coast reach that was previously known as Boston Properties, was the seller in the all-cash deal, the county documents show."

"In 2016, BXP floated plans that envisioned a massive tech campus totaling 1.1 million square feet on the North San Jose site. But the coronavirus outbreak that chased countless workers out of their offices in the Bay Area and nationwide prodded numerous real estate firms to rethink their plans about developing - or even owning - office sites. BXP was among those. In 2024, BXP ditched the dormant tech campus plans and replaced them with a concept for a big housing development on seven acres of the property. By May 2025, BXP decided to put the entire site up for sale."

"BXP has been busy selling other properties in the South Bay of late. During the fall, the city of San Jose decided to pay $13.5 million for a 3.6-acre site at 447 South Almaden Blvd., where BXP had planned to develop a campus totaling 2.05 million square feet. BXP never broke ground on that project. In December 2025, Palo Alto Networks paid $90 million to purchase from BXP an undeveloped Santa Clara site across from the tech company's headquarters. BXP had proposed a big office complex at that location, but never broke ground."

A 24-acre site in North San Jose sold for $50.5 million to an affiliate of Four Corner Properties, with documents filed Jan. 15 at the Santa Clara County Recorder's Office. BXP, formerly Boston Properties, was the seller in the all-cash transaction. BXP had proposed a 1.1 million-square-foot tech campus in 2016, paused and revised plans after the coronavirus prompted widespread office rethinking, and introduced a seven-acre housing concept in 2024 before listing the entire site for sale in May 2025. BXP has also sold or listed other South Bay parcels, including deals with the city of San Jose and Palo Alto Networks.

Read at The Mercury News