Boston Properties to Sell North San Jose Park for $207M
Irvine chip-maker Broadcom plans to pay Boston Properties $207M for is Boston Properties' Innovation Place, a 26-acre business park in North San Jose.
The largely vacant business park has nearly 544k SF of office space in four buildings, with Boston Properties planning to add two additional buildings for nearly 540k SF more space.
Broadcom says it needs up to 1.1M SF of office space and would build more as needed. The company also bought land in Irvine earlier this year and has started building a $778M corporate campus there. The deal is expected to close before the end of the year. [SVBJ]