Big manufacturing and industrial center is eyed at San Jose site
SAN JOSE — A big manufacturing and industrial complex in could sprout on a San Jose site that a development venture has just bought, newly filed city plans show.
Rockpoint Group purchased the 10.2-acre property in south San Jose for $15.7 million on March 31, according to documents filed on March 31 with the Santa Clara County Recorder’s Office.
The property, which Rockpoint bought in an all-cash deal, is located at 865 Embedded Way, the county records show. The site is near two freeway interchanges that connect to U.S. Highway 101.
On April 27, Oppidan, which is a development partner for Texas-based Rockpoint Group, filed a proposal with San Jose city officials to construct a big building on the Embedded Way property that would accommodate manufacturing or industrial operations.
Boston-based Rockpoint, which is a private equity real estate investment firm, had previously formed an alliance with Oppidan to develop industrial sites in the United States.
The building could total 121,900 square feet, according to the documents on file with the city.
The industrial and manufacturing complex would be one story high, the city records show.
Developers have been buying large chunks of land in south San Jose in recent years.
Duke Realty, one of the nation’s biggest developers, is among the active buyers.
The interest by developers and investors in this part of San Jose might be driving prices higher in the area.
In the case of the Rockpoint purchase, the seller, a real estate partnership based in Southern California, bought the land in 2019 for $4 million, county documents show.