Broadcom Buys North San Jose Business Park

Broadcom is dropping $207 million for 26 acres in North San Jose that is already approved for up to 1.1 million SQFT in office space. They are purchasing the land from Boston Properties, which hopefully will reinvest those funds in San Jose (They have three proposed office towers in Downtown San Jose).

The location is a vacant business park at 3200 Zanker Road, next to Crescent Village. Apple now owns 80 acres of land not far away and supposedly other large deals are in the works. The North First district went from having the highest vacancy rate in San Jose to being in huge demand over the course of just five years!

Source: SVBJ