Hines Plans Massive Warehouses in South San Jose
A Houston-based developer, Hines Interests Limited Partnership, is set to establish three expansive warehouses spanning nearly 45 acres of land in South San Jose. The proposed industrial buildings aim to amplify the existing swath of industrial properties in the area, contributing to the city’s growing industrial sector.
Hines Interests Limited Partnership has initiated the approval process for a 234,000-square-foot industrial building on approximately 16 acres of vacant land located at 644-675 Piercy Road, in close proximity to the intersection of Piercy Road and Hellyer Avenue. The project will be evaluated by the Planning Director during a public hearing scheduled for Wednesday morning.
Managed by Hines, a privately held firm operating in 30 countries, the company oversees a substantial portfolio totaling $94.6 billion in real estate assets.
Aside from the 644 Piercy proposal, Hines has additional plans for the immediate vicinity. The firm intends to develop two more warehouses occupying 422,670 square feet on nearly 29 contiguous acres of land to the north, situated at 550 Piercy Road.
The designated area falls within the southeastern corner of the Edenvale district of San Jose, which is well-known for its concentration of industrial buildings catering to various industries such as research and development, high-tech manufacturing, assembly, and testing. Notably, the district is also home to medical device and pharmaceutical industry tenants, as well as large-format churches and housing developments.
Although Hines’ specific tenant intentions for the warehouses remain undisclosed, the company’s interest in the South San Jose location underscores the significance of proximity to the thriving market in the South Bay.
Frequently Asked Questions (FAQ):
Q: How much real estate assets does Hines manage?A: Hines manages approximately $94.6 billion in real estate assets.
Q: Where is the proposed location for the warehouses?A: The warehouses are planned for the southeastern corner of San Jose’s Edenvale district, near the intersection of Piercy Road and Hellyer Avenue.
Q: What types of industries are present in the area?A: The area is characterized by a range of industries, including research and development, high-tech manufacturing, assembly, testing, medical device and pharmaceutical, and housing developments.
Q: Will the warehouses impact the neighborhood?A: To minimize disruption to the neighborhood, plans include restricting car traffic to Tennant Avenue while freight trucks will use Hellyer Avenue for entering and exiting.
Q: Are there other developers planning warehouses in the area?A: Yes, other investment firms such as Xebec and InSite Property Group have secured approvals for their respective warehouse projects on Piercy Road.