SANTA CLARA — An Amazon unit has paid effectively over $200 million for a giant industrial website in Santa Clara the place a manufacturing facility had operated for many years till it closed its doorways in latest months, public actual property information present.
The property buy runs counter to the narrative that tech corporations within the Bay Space are solely in layoff mode at current with little thought for future enlargement.
Amid the dreary drumbeat of job cuts, quite a lot of tech corporations proceed to actively plan for progress down the highway.
Amazon.com Companies paid $237.8 million for the Owens Corning manufacturing facility advanced and adjoining acreage close to the nook of Central Expressway and Lafayette Avenue in Santa Clara, paperwork filed on March 6 present.
The Amazon unit purchased the positioning at 960 Central Expressway, which totals 41.5 acres, in response to the information on file with the Santa Clara County Recorder’s Workplace.
Owens Corning Insulating Methods, an affiliate managed by Owens Corning, offered the two-parcel property to Amazon.
Amazon.com Companies purchased the property in an all-cash deal, the county public information present.
Seattle-based Amazon has beforehand sketched out plans in WARN notices to eradicate 524 jobs within the Bay Space, layoffs affecting employees in Sunnyvale and San Francisco.
In 2021, Owens Corning, a maker of fiberglass, insulation and roofing merchandise, stated that it could stop operations on the Santa Clara plant.
Round October 2022, Owens Corning laid off 225 employees in job cuts that have been related to the beforehand introduced plant shutdown, the corporate said in a WARN discover filed with state labor officers.
The 41.5-acre property is a possible growth website, paperwork on file with Santa Clara metropolis planners present.
An actual property agency had beforehand proposed three choices for the event of the positioning. The venture might include some mixture of business, logistics, or warehouse buildings, the preliminary growth proposal reveals.
Owens Corning had retained possession of the positioning even whereas the event plans have been being floated in Santa Clara.
The acquisition by the e-commerce big of the Santa Clara land means that Amazon continues to craft plans for future enlargement in Silicon Valley, even whereas the corporate trims some segments of its enterprise.
Amazon.com Companies is a commerce and supply unit of the tech titan.