A Chicago developer has moved forward with a 714,500-square-foot warehouse project in North San Jose.
Bridge Development Partners has passed a preliminary environmental review for four proposed warehouses at 2150 Commerce Drive and 2222-2350 Qume Drive, the Silicon Valley Business Journal reported.
The developer wants to replace three warehouses of 425,433 square feet with four buildings of 714,419 square feet to meet rising demand. Industrial vacancy in Silicon Valley stood at 2.9 percent in the first quarter, according to a report from Cushman & Wakefield.
Plans call for four single-story buildings from 70,000 square feet to 358,000 square feet, with 20,000 square feet of office space. The project would include 80 loading docks, 99 truck parking spaces and 412 parking slots for cars.
Construction is expected to begin in summer 2024 and take 18 months.
Bridge Development, now doing business as Bridge Industrial, bought the three parcels in North San Jose for $134 million last year from Becton, Dickinson & Company, a medical tech firm based in New Jersey, according to data from Reonomy.
Bridge has two other warehouse projects in the Bay Area, including a 722,040-square-foot development in Milpitas and a 534,208-square-foot project in Oakland.
– Dana Bartholomew