SANTA CLARA — A real estate firm paid a combined $65.4 million for two adjacent Santa Clara properties on the west side of San Jose Mineta International Airport – one where a data center is planned and the other occupied by a car rental operation.
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A Tishman Speyer-linked affiliate acquired roughly 23.6 acres in the deals completed within days of each other in late July, grant deeds on file with county officials show.
Bought for $42.4 million, one property consists of 15.2 acres of empty land at 2600 De La Cruz Blvd. The adjacent site at 2750 De La Cruz Blvd. was purchased for $23 million and totals 8.4 acres.
In 2021, Santa Clara city planners approved a data center complex for the 2600 De La Cruz site. It was expected to total 703,000 square feet and have a backup generator with a capacity of 96.5 megawatts, city planning files show.
Dallas-based Cyrus One, a data center developer and operator, sold the two parcels to the Tishman Speyer affiliate.
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Cyrus One had previously envisioned a data center complex on the two parcels that would be capable of delivering more than 100 megawatts of electrical capacity, enough energy to serve up to 100,000 residences.
It wasn’t immediately clear whether a revised or expanded data center proposal would be submitted for the site or if the new owner has a vision for the properties that differs from what’s already been approved.
A growing number of data center projects are coming into view in the South Bay, an upswing in proposals that is particularly pronounced in San Jose.
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