SAN JOSE — A huge chunk of San Jose land that’s in a new growth warm location has been bought by a veteran developer with a nationwide arrive at.
Rockpoint Team, performing as a result of an affiliate, has purchased 10.2 acres of land at 865 Embedded Way in South San Jose, according to documents filed on March 31 with the Santa Clara County Recorder’s Place of work.
The land was bought for $15.7 million, the county property information clearly show.
Rockpoint Team obtained the land, which is close to two freeway interchanges connecting to U.S, Freeway 101, via an all-hard cash deal.
Developers have been buying massive chunks of land in south San Jose in the latest a long time. Duke Realty, one of the nation’s most important builders, is among the energetic prospective buyers.
The curiosity by developers and investors in this portion of San Jose could possibly be driving price ranges bigger in the location.
In the situation of the Rockpoint invest in, the vendor, a serious estate partnership based mostly in Southern California, acquired the land in 2019 for $4 million, county files show.
A broad array of utilizes could be built on the empty land, in accordance to details for the web-site that was posted with the LoopNet professional residence listing support.
Tech, investigation, industrial, warehouse and other industrial activities could be built on the site, the LoopNet listing said.
Boston-dependent Rockpoint Group is a non-public equity serious estate financial commitment and growth agency which is active in significant home markets in the course of the United States.