The Bay Area expansion of e-commerce giant Amazon carries on with an all-cash deal in Santa Clara, SFGATE reported.
Amazon Data Services, a company subsidiary, became the land buyer, paying off $51.8 million for the property, the Mercury News first reported.
The 2315 Mission college Blvd. sale created a clean profit for IPI Partners, which previously owned the property, according to real estate records. IPI Partners obtained the site for $47.1 million in June last year.
Recently, Amazon made big strides in its Bay Area expansion as for the last five months, it broke with every property. The Santa Clara County Clerk Recorder’s office said that Amazon paid $31.2 million for a 60-acre land in Gilroy just last month.
To boost its delivery services, Amazon also inked a 10-year lease for a warehouse located on Coliseum Way in Oakland in November. At that time, the company told SFGATE that the land was ideal for its closeness to freeways and public transit.
The e-commerce giant made a $200 million payment on a warehouse location in the Potrero Hill neighborhood before the huge lease agreement. San Francisco Chronicle reported that the land is set for housing.
Adding to the Bay Area expansion milestones of the company was the 395, 000 square foot property it acquired in the 1000 block of Gibraltar Drive in Milpitas, its representatives confirmed in October. Amazon paid $123 million on the property but does not have any plans “solidified as to what will be built here,” its spokesperson shared to SFGATE through an email. The spokesperson, however, confirmed that “the land will very likely be redeveloped.”