Trammell Crow has acquired 8.5 acres near a gateway to downtown San Jose from Adobe Systems for $58.5M. The developer plans a tech campus within an urban setting to include office, homes and retail.
The site is in the Diridon Station area and fronts West Santa Clara Street. Initial plans call for two 10- to 12-story buildings to include 800k SF of office and a nine-story apartment building with 325 units.
Trammell has been searching for a major transit-oriented site next to Caltrain and was attracted to this particular site due to its large size and frequent “BabyBullet” service. Adobe purchased the land in 2006 for $32.5M with an eye towards future expansion. [SVBJ]
