Amazon expansion continues with recent acquisition of $123M Bay Area property

1 min read

Amazon has taken another move for its huge expansion in the Bay Area, with a part of land located blocks away from the Great Mall in the South Bay among its recent acquisitions.

On Monday, the Bay Area News Group reported that the e-commerce giant has allotted $123 million to purchase four buildings and an undeveloped and unfolded space that takes up 29 acres in Milpitas.

The news outlet said necessary documents for securing the area were already turned over last Friday.

The information regarding the latest acquisition was confirmed by the company’s representative to SFGATE.

According to the representative, the 395, 000 square foot property will be put on Gibraltar Drive’s 1000 block.

However, there are only limited details on the purchase, the spokesperson said in an email to SFGATE, as no plans are yet “solidified as to what will be built here.”

The spokesperson said, “the land will very likely be redeveloped.”

The recent property follows the secured land of the company in September in Pleasanton. Amazon has secured 58.5 parcels of land there for around $75 million.

Within the past couple of years, the tech mammoth has leased or bought about 2.4 million square feet of property in the Bay Area, which the Registry said are intended for warehouses and other facilities related to its shipping services.

Real estate company CBRE’s marketing brochure said that the property was planned to become a corporate “campus” at first.

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