Large Silicon Valley Development Site Sold

06/05/2013 2:05 pm

Trammell Crow Co. and joint venture partner Principal Real Estate Investors have purchased 57 acres from Cisco Systems, Inc. near the company's existing campus in North San Jose, CA.

Costar reports, that such a large site is rare in supply constrained Silicon Valley, and the site near Highway 237 will eventually include the first modern industrial facilities developed in San Jose for more than 15 years.

The JV is considering speculative industrial and build-to-suit development as well as breaking the site into smaller land parcels for sale.

"We've been looking for opportunities to do a high-quality business or industrial park in Santa Clara County," said John Greer, principal and head of Trammell Crow’s Northern California business unit. "There's a diminishing inventory of quality industrial space, and there are clear opportunities here for uses including assembly and light manufacturing, as some of these activities come back to the Bay Area from off-shore."