SAN JOSE — A big building would switch its proposed uses to enable more tech-oriented activities under a new proposal being floated at City Hall.
The building is located at 5853 Rue Ferrari in south San Jose, according to documents on file at San Jose City Hall.
Workspaces in a research and development building at 5853 Rue Ferrari in south San Jose, concept. (Prologis)
Prologis owns the building and many other properties in the wake of the Prologis purchase of Duke Realty in 2022 through a $26 billion all-cash deal.
Related Articles
Landmark Oakland office tower is mired in $111 million loan default
Buyer emerges for San Jose frat house once slated for affordable housing
South Bay tech campus is taken by lender in real estate foreclosure
Family harvests millions from sale of longtime San Jose egg ranch
San Jose apartment complex delinquent on loan, faces foreclosure
In 2020, Duke Realty paid $40.6 million for a 17-acre site that’s near an interchange of U.S. Highway 101 and State Route 85, Santa Clara County real estate records show. Prologis inherited the property after its Duke Realty purchase.
The property’s addresses are 5853 and 5863 Rue Ferrari.
Prologis and Duke had planned to redevelop the site and create a new industrial hub totaling 302,800 square feet, preliminary plans on file with the city show. The proposed warehouse building has been constructed.
“The project applicant proposes the use of the site would be changed to research and development, which is an allowed use for the site,” Kimley-Horn, a project consultant company for Prologis, stated in a letter to the San Jose Planning Department.
The new warehouse building is being updated with multiple tenant improvements, according to the Prologis consultant.
Amazon, Walmart and Home Depot are among the Prologis tenants nationwide. It wasn’t immediately clear which tenant or tenants might occupy the repurposed building, however.
In 2020, Duke Realty indicated in its first proposal filed with the city that the developer was planning a state-of-the-art complex on Rue Ferrari.
“We intend to incorporate enhanced architecture and landscaping, which will be a significant upgrade to the current facility and surrounding buildings,” Duke Realty stated in some preliminary plans.
