SANTA CLARA, CALIF. — JEMCOR Development Partners and Scaled Projects acquired a 2.5-acre site in Santa Clara for $12.5 million on Dec. 18. Jason Parr and Scott MacDonald of Berkadia San Francisco arranged the sale. The site is adjacent to Levi’s Stadium, home of the San Francisco 49ers, and is zoned for high-density residential development within the city’s Patrick Henry Drive Specific Plan Area. The plan was adopted by the Santa Clara City Council in 2022 with the goal to redevelop a series of office parks, some developed in the 1970s, into high-density, mixed-use real estate. The plan allows approximately 100 to 149 units per developable acre. The buyers did not announce specific plans for the site, which is currently home to an office building developed in approximately 1979.
The 2.5-acre residential development site located at 3100–3118 Patrick Henry Drive in Santa Clara, California, has been acquired by JEMCOR Development Partners and Scaled Projects. The new owners are expected to redevelop the site into a residential community at a to-be-determined later date.
Berkadia Arranges $12.5 Million Land Sale in Silicon Valley
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