Tishman Speyer Acquires Santa Clara Data Center Site for $65 Million

• Tishman Speyer has acquired 23.6 acres of entitled land in Santa Clara for $65.4 million.
• The property was sold by CyrusOne and already has approvals for a large-scale data center development.
• The site could support a 703,000-square-foot data center with up to 96.5 megawatts of capacity, further strengthening Silicon Valley's data center market.

What Tishman Speyer Acquired

Tishman Speyer has expanded into Silicon Valley's rapidly growing data center market with the acquisition of 23.6 acres across two adjacent parcels in Santa Clara. The transaction includes 2600 De La Cruz Boulevard, a 15.2-acre site purchased for $42.4 million, and 2750 De La Cruz Boulevard, an 8.4-acre parcel acquired for $23 million. Together, the properties were sold by CyrusOne for a combined $65.4 million.

What the Approved Development Includes

The larger property at 2600 De La Cruz Boulevard already received city approval in 2021 for a major data center campus. Previous plans called for a 703,000-square-foot facility capable of supporting approximately 96.5 megawatts of computing capacity. Earlier concepts for both parcels envisioned a campus capable of delivering more than 100 megawatts of power, enough to support large-scale cloud computing and artificial intelligence operations. Tishman Speyer has not announced whether it intends to move forward with the existing approvals or submit revised development plans.

What This Means for Silicon Valley

The acquisition comes as demand for AI infrastructure continues to drive data center development throughout the South Bay. Santa Clara remains one of the country's most attractive markets for data centers due to its established electrical infrastructure and relatively competitive power costs. Recent proposals across nearby San Jose and other Silicon Valley communities demonstrate continued investor confidence as technology companies expand their need for high-performance computing facilities.

What Comes Next

While Tishman Speyer has not yet revealed its plans for the site, the fully entitled property provides a significant opportunity to develop one of the region's larger data center campuses. As AI adoption and cloud computing demand continue to accelerate, the Santa Clara acquisition positions the firm to participate in one of commercial real estate's fastest-growing asset classes.