SAN JOSE — A veteran real estate firm wants to develop a huge industrial center in San Jose of the type that could attract an array of companies including a tech titan such as Amazon.
Duke Realty has submitted very preliminary plans to develop a vast industrial complex near the interchange of U.S. Highway 101 and State Route 85 in south San Jose, according to plans on file with city officials.
The real estate company wants to bulldoze two big existing buildings at 5853 and 5863 Rue Ferrari in San Jose and then replace them with a larger and modern industrial center.
The existing buildings total 286,300 square feet, according to the very preliminary proposal that Duke Realty has submitted to San Jose planners.
The new complex would be a modern industrial center and job hub, the plans state.
“This industrial facility has the potential to attract manufacturing, R&D, and/or distribution uses that will provide long term economic benefits to the city including employment,” Duke Realty stated in the proposal on file with San Jose planners.
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According to the plans submitted by the real estate development and investment firm, the new complex would total 303,100 square feet.
The site, at present, is owned by an affiliate of Blue Vista Capital Management, a Chicago-based investment firm, according to Santa Clara County assessment records.
It wasn’t immediately clear which company or companies might occupy the site once the construction is complete.
What is clear, however, is that Duke Realty and Amazon have a significant connection since Duke Realty is frequently Amazon’s landlord.
“Duke Realty is an e-commerce-preferred developer, working with many of today’s logistics leaders to help them maximize their product storage and distribution,” the developer states on its website. Duke Realty then went on to highlight some clients: “Amazon, Weber-Stephen, Carter’s, and Dick’s.”
A September 2020 analysis on the Motley Fool investment site took note of the Duke Realty and Amazon connection.
“One thing that stands out about Duke Realty is its relationship with Amazon,” Motley Fool …read more
Source:: The Mercury News – Entertainment