Goodman Group Acquires 46.8 Acres In San Jose From LBA Realty For $200M

The property asset involved in this transaction is a land parcel spanning 46.8 acres, located at 350-370 West Trimble Road in San Jose. It has been acquired for a total sale price of $200,000,000, and includes buildings currently leased to Lumileds. This acquisition adds to a site near Microsoft's planned data centers, with previous purchases of adjacent parcels having been made by Microsoft in 2021 and 2023.

Summary of transation details:

• Property Type: Land
• Transaction Amount: $200,000,000
• Buyer: Gregory Goodman - Goodman Group
• Seller: Phil Belling - LBA Realty
• Market: San Jose
• Acres: 46.8

The deal includes the Goodman Group, which is represented through its U.S. affiliate, and it reflects a strategic acquisition to expand their footprint in the vicinity of significant technological developments in the area. The seller, Phil Belling, represents LBA Realty, highlighting the involvement of established entities in this high-value transaction.