A modern industrial center may replace a 1980s-era research and office building in North San Jose.
Manhattan Beach-based 9th Street Partners wants to bulldoze the almost 40-year-old building at 2105 Lundy Avenue and build an industrial campus for advanced manufacturing or tech-oriented logistics, the Mercury News reported. It would yield a 102,000-square-foot building at the 4.1-acre lot at the corner of Lundy Avenue and Concourse Drive, between I-880 and I-680.
The 24,900-square-foot building was built in 1983 and is about 50 percent vacant. The developer wants to replace it with a property that could attract big tech companies such as Amazon. Tenants haven’t been secured for the new building, making it a speculative project. 9th Street Partners has a contract to buy the lot.
“The proposed project is designed to reposition the property as a modern industrial facility that will appeal to technologically oriented logistics and/or manufacturing companies,” the development plans said. “The current improvements are functionally obsolete for these types of companies.” The developer said it would boost San Jose’s economy by attracting skilled workers.
Silicon Valley’s commercial market had its busiest year in 2021. According to CBRE, spending on office buildings and research and development properties surged 80 percent to a record $8.7 billion. Spending on office buildings jumped 63 percent to $4.83 billion and more than doubled to $3.9 billion for research and development buildings.
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