Prologis has scooped up a big piece of bare ground in South San Jose, paying $14 million for a vacant, roughly 14-acre site at 455 Piercy Road that has been pitched for industrial redevelopment. The same parcel last changed hands in 2021 for about $4.75 million, a sharp jump in value that tracks a very tight industrial market.
According to the Silicon Valley Business Journal, Prologis, already the region’s largest commercial property owner, is listed as the buyer and closed on the site at the $14 million price.
Site History And Prior Plans
City planning records and the state CEQA database show the property was examined in 2022 for a potential industrial project: an approximately 121,580-square-foot warehouse with a 5,000-square-foot mezzanine office on a project site described at about 14.26 acres, according to CEQA documents.
Coverage at the time by The Real Deal identified InSite Property Group as the applicant on that proposal and outlined the plan’s loading docks, parking layout and staffing expectations.
What The Purchase Signals
The deal highlights how strong the appetite remains for infill industrial land in the South Bay, where logistics operators and suppliers to data centers are still driving much of the leasing demand. Industry reporting notes that Prologis has logged record leasing activity in recent periods and is ramping up both its build-to-suit and data-center pipelines, a trend that helps explain why a development-ready site like this would be attractive, according to CoStar.
Local Impact And What’s Next
Any move to redevelop the lot will still have to clear San Jose’s usual hurdles, including formal city approvals and additional environmental review. Earlier filings suggested a project on the site could support several dozen full-time jobs and called out familiar construction flashpoints such as traffic and noise, according to City of San José records.
Public market listings identify the parcel as APN 678-93-030 at 455 Piercy Rd, based on property records and listing information on LoopNet. With the land now in the hands of a major institutional landlord, the timing and shape of any future warehouse or industrial project will likely be watched closely by neighbors and brokers alike.
