SAN JOSE, CA—The Plant shopping center has been sold to a division of Cole Real Estate Investments for $205 million. The seller is WPV San Jose LLC, an entity of Vornado Realty Trust, according to the Silicon Valley Business Journal, which citied an SEC filing.
The massive retail development is at Curtner Avenue and Monterey Road in San Jose and weighs in at 650,500 square feet, one of the largest in the region. It occupies a 55-acre former brownfield site that used to be a General Electric plant. Because some retailers own their space, Cole Credit Property Trust IV is buying 510,000 square feet.
Retailers at the plant include big-box stores like Target, The Home Depot, Best Buy, Ross, and others. In 2010, the center was valued at about $150 million.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
