The Department of General Services (DGS), the department charged with managing the state’s real estate, announced today that it intends to sell approximately 81 acres of surplus real estate located in the Golden Triangle of Silicon Valley. DGS began marketing the property June 4 and buyers have until October 3, 2013 to submit proposals to purchase and develop the site that was once a portion of the former Agnews Developmental Center.
“Governor Brown has made clear his intention for DGS to sell surplus property to help pay down our wall of debt,” said DGS Director Fred Klass. “This sale will allow us to meet that goal while providing a tremendous development opportunity for the San Jose community.”
DGS will evaluate proposals in the fall and consider the offer that provides the highest return for the state. While evaluating the offers, the Department will consider the purchase price as well as the longer term economic benefits of each proposal.
The property sits within easy access to State Highway 237, US Highway 101, Interstate 880 and the Mineta San Jose International Airport. The property is also walking distance from three light rail stations.
This is the third time that DGS has sold property that once housed Agnews. Previously, DGS sold another 212 acres of property to Cisco and Oracle (formerly Sun Microsystems) for approximately 4.3 million square feet of office space, as well as 180 acres for the mixed-use Rivermark project.
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