A prime development site in San Jose, approved for a large tech office campus, has been put up for sale, sparking uncertainty about its future. Located at 447 South Almaden Boulevard, the property was initially set for a 1.6 million square foot office hub but faced delays as the pandemic has drastically altered the expansion landscape for the tech industry. Though currently permitted for office space, the marketing team from Newmark suggests flexibility in zoning could allow potential buyers to explore various development options.
The development site in downtown San Jose, poised for a massive office hub, has been put up for sale, raising questions about its future.
Located at 447 South Almaden Boulevard, the site is approved for a significant office project but has faced uncertainties since the pandemic.
BXP's ambitious plans never materialized as the pandemic shifted the business landscape, leaving office spaces vacant and causing projects to stall.
Newmark is looking for buyers while highlighting that the zoning permits flexibility for a new owner to consider alternative development.
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