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Amazon Bucks Trend, Pays $238M for Santa Clara Factory

Amazon Bucks Trend, Pays $238M for Santa Clara Factory

While many major tech companies have been cutting back on real estate holdings, including online retail giant Amazon, the company is apparently still buying properties. The Silicon Valley Business Journal reports that Amazon has purchased the site of Owens Corning’s former insulation factory in Santa Clara, CA for $237.8 million.

Located on Central Expressway at Lafayette Street, the facility was shuttered in the fourth quarter of 2022, and all 225 employees were let go. In an interesting twist, Owens Corning had previously entered into an agreement to sell the site to Panattoni in late 2021, but the firm later transferred the purchase agreement to Amazon.

Amazon has not yet disclosed what it plans to do with the site, but Panattoni had filed plans with Santa Clara to build a trio of industrial buildings totaling 890,000 square feet. Two of the facilities were slated to be data centers or warehouses and the third a distribution center with office space and a parking garage.


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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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