Bruce Burkard Of Four Corners Properties Acquires 24-Acre Development Site From Owen D. Thomas For $50.5M

A 24-acre development site located at 2830 North 1st Street & 45-65 East Plumeria Drive, San Jose, has been sold for $50.5 million. This transaction reflects the recent market activity as institutional owners shift focus away from long-term speculative projects, following BXP's decision to abandon its previous tech campus and residential plans.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $50,500,000
• Buyer: Bruce Burkard - Four Corners Properties
• Seller: Owen D. Thomas - BXP
• Market: San Jose
• Acres: 24

Bruce Burkard represented Four Corners Properties in this acquisition while Owen D. Thomas represented BXP, facilitating the sale of a significant development opportunity in Silicon Valley.