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Prologis buys 112-acre theme park in Santa Clara
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Prologis to put up 312K sf industrial building in San Jose
San Francisco REIT plans to tear down vacant 141K sf structure to build a bigger one
Prologis wants to tear down a 141,300-square-foot industrial building in north San Jose to build another one twice its size.
The San Francisco-based real estate investment trust has filed preliminary plans to build a 312,000-square-foot industrial building at 2256 Junction Avenue, the Silicon Valley Business Journal reported.
Plans call for a LEED Silver-certified building, which would include solar rooftops and electric vehicle plugins, Prologis spokeswoman Alana Victor told the newspaper.
It would replace a vacant industrial building, built in 1976 on nearly 14 acres on the south corner of Junction and Dado Street.
The property is officially owned by Duke Realty, a major developer acquired by Prologis last year for $26 billion.
Duke Realty had envisioned converting the property into a distribution warehouse for Seattle-based Amazon.com, which signed a lease for the building.
In 2021, Duke filed plans to demolish parts of the building, expand it by 200 square feet and configure it to serve as a “last mile” e-commerce distribution center, to be operated by a single tenant to support expedited local deliveries to customers, according to the city.
But those plans never got off the ground. And Prologis, a major landlord for Amazon, didn’t mention the online tech giant.
“Our intent is to transform a vacant site into a state-of-the-art industrial facility,” Victor said in a statement.
The industrial plans come a year after the global developer last summer announced it would buy the 112 acres beneath California’s Great America theme park in Santa Clara for $310 million.
In August, Prologis bought a 246,000-square-foot industrial and research building in Fremont for $86.6 million, or $352 per square foot.
In July, the company bought the 111,000-square-foot San Jose industrial Center for $38 million, or $342 per square foot.
— Dana Bartholomew
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