Amazon unit buys big chunk of land in Santa Clara, paying cash
A unit of Amazon has bought a big slice of land in Santa Clara, a deal that signals a fresh expansion spot for the e-commerce behemoth.
The property involved in the deal is a seven-acre site at 2315 Mission College Blvd. in Santa Clara, according to real estate documents filed on Jan. 4 with the Santa Clara County Recorder’s Office.
Amazon Data Services, a subsidiary of Amazon, paid $51.8 million for the parcel, the county records show.
The tech company, which provides on-demand cloud computing platforms, bought the property through an all-cash deal.
The seller was an affiliate of IPI Partners, a San Francisco-based real estate firm that develops, leases and invests in data centers and technology facilities for cloud-based computing.
IPI Partners appears to have harvested a swift profit on the property. In June 2021, IPI Oppidan DC Venture Phase II, the affiliate paid $47.1 million for the parcel.
That means the most recent Amazon Data Services purchase represents a 10% jump in the property’s value in six months.
The site that Amazon has just bought is adjacent to a property totaling 8.8 acres that an IPI unit continues to own.
The adjacent property is being developed as a modern data center.
Seattle-based Amazon and its units, through a combination of leases and property purchases, have been steadily expanding their respective footprints and operations in both Santa Clara County and Alameda County in recent years.