"Prologis owns the building and many other properties in the wake of the Prologis purchase of Duke Realty in 2022 through a $26 billion all-cash deal. In 2020, Duke Realty paid $40.6 million for a 17-acre site that's near an interchange of U.S. Highway 101 and State Route 85, Santa Clara County real estate records show. Prologis inherited the property after its Duke Realty purchase."
"The project applicant proposes the use of the site would be changed to research and development, which is an allowed use for the site, Kimley-Horn, a project consultant company for Prologis, stated in a letter to the San Jose Planning Department. The new warehouse building is being updated with multiple tenant improvements, according to the Prologis consultant. Amazon, Walmart and Home Depot are among the Prologis tenants nationwide. It wasn't immediately clear which tenant or tenants might occupy the repurposed building, however."
Prologis owns a newly built warehouse at 5853 and 5863 Rue Ferrari in south San Jose on a 17-acre site near the U.S. 101 and State Route 85 interchange. Duke Realty purchased the site in 2020 for $40.6 million and was later acquired by Prologis in 2022 through a $26 billion all-cash deal. Preliminary plans envisioned a 302,800-square-foot industrial hub. The constructed warehouse is now proposed to be repurposed to research and development use, an allowed use for the site. Kimley-Horn notified the San Jose Planning Department of the proposed change. Multiple tenant improvements are underway, and tenant occupancy remains undetermined.
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