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Sunday, May 29, 2022

Advanced Technological Manufacturing Center May Sprout at San Jose Site

San Jose – A hotbed for advanced technology manufacturing could grow in the site that had the eye of a mixed-use village in San Jose, plans filed with city officials show.

According to a proposal filed by property owner and developer LBA Realty, the complex will total 208,000 square feet and will be located at 350 W Trimble Road near Orchard Parkway.

LBA Realty has a total parcel of 37.5 acres on that site. The proposed building will be constructed on approximately 10.4 acres of the total site, according to the plan filed with the city authorities.

At one time, the LBA owned about 68.1 acres on two parcels at that location. However, in 2021, the LBA sold approximately 30.6 acres to Microsoft for $78.7 million. Microsoft has proposed the development of two large data centers on the acreage.

The LBA proposed a development it was calling North Town that would include office buildings, a hotel, shops and restaurants on the 37.5 acres it still owns.

When the project was first proposed, it was hailed as a new village set to enliven that part of North San Jose.

However, in the wake of the coronavirus outbreak, large-scale office and hotel projects are being seen riskier than ever in some circles.

As a result, it appears that LBA Realty has shifted gears on about one-third of the property it still owns.

The “manufacturing and assembly” use for the property is now being tracked in the LBA filing states.

Advanced technology and construction projects have increased in popularity because this type of work is usually done in person and cannot be easily handled by workers who are at remote sites or at home.

However, tech titans have been able to let many or even most of their employees work on their own or from other remote locations. That dynamic, in turn, has clouded the outlook for when companies will fully return to their offices.

As a result, developers have begun to scout for alternative uses for their properties, looking for ways to convert existing offices or vacant land into life sciences, biotech, advanced technological manufacturing, or industrial spaces.

World Nation News Desk
World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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