https://www.eastbaytimes.com/2026/01/16/san-jose-tech-economy-property-build-real-estate-develop-develop-home/
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SAN JOSE – A huge San Jose site once deemed to be a prime candidate for a high-profile tech campus has been bought by a veteran real estate firm with extensive experience in the Bay Area real estate market.
The 24-acre property in North San Jose was bought for $50.5 million by an affiliate of Four Corner Properties, according to documents filed Jan. 15 with the Santa Clara County Recorder’s Office.
BXP, a real estate titan with a coast-to-coast reach that was previously known as Boston Properties, was the seller in the all-cash deal, the county documents show.
In 2016, BXP floated plans that envisioned a massive tech campus totaling 1.1 million square feet on the North San Jose site.
But the coronavirus outbreak that chased countless workers out of their offices in the Bay Area and nationwide prodded numerous real estate firms to rethink their plans about developing – or even owning – office sites. BXP was among those.
In 2024, BXP ditched the dormant tech campus plans and replaced them with a concept for a big housing development on seven acres of the property.
By May 2025, BXP decided to put the entire site up for sale.
The property is bounded by North First Street, Daggett Drive, Zanker Road and East Plumeria Drive, according to Santa Clara County property records. Some older buildings and empty structure pads now occupy part of the site.
BXP has been busy selling other properties in the South Bay of late.
During the fall, the city of San Jose decided to pay $13.5 million for a 3.6-acre site at 447 South Almaden Blvd., where BXP had planned to develop a campus totaling 2.05 million square feet. BXP never broke ground on that project.
In December 2025, Palo Alto Networks paid $90 million to purchase from BXP an undeveloped Santa Clara site across from the tech company’s headquarters. BXP had proposed a big office complex at that location, but never broke ground.
BXP still owns a downtown San Jose property on Autumn Parkway where the real estate firm had proposed an eye-catching tech campus. The company began construction twice on the development, but now has mothballed that project.
Los Altos-based Four Corners Properties focuses on development and real estate investment solely in the Bay Area, according to the company’s website. San Jose is among the Bay Area cities where Four Corners is active.
“Over time, we have developed multiple properties in many municipalities, giving us unparalleled knowledge of our markets,” Four Corners states on its website.
The company has been active as both a buyer and a seller of commercial real estate properties in the Bay Area lately.
In March 2025, Four Corners paid $21.2 million for a two-building Santa Clara office hub on Jay Street.
An alliance of Rockwood Capital and Four Corners sold a historic building in Campbell known as The Cannery for $13.5 million in July 2025 to BH Properties.
Four Corners landed the North San Jose site that it bought from BXP at a hefty discount.
The $50.5 million that the Four Corners affiliate paid was about 43% below the $88.4 million assessed value for the property as of January 2025. Assessed values are just one metric that can be used to gauge a property’s worth.
Four Corners has experience in an array of property classes. The company says its portfolio is growing steadily.
“We have acquired assets in each phase of the real estate cycle, deploying capital strategically with consistent results,” Four Corners states on its website.
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