North San Jose tech campus of seven office buildings and two parking garages at 550 East Brokaw Road, elevated view, concept.SAN JOSE — A tech company whose sales are on the rise has struck a deal to buy a big San Jose site where a Fry’s Electronics store operated for decades until it went out of business three years ago.
Along with a Mayan-themed Fry’s store, the property once accommodated the consumer electronics retailer’s headquarters and warehouse. The now-defunct San Jose Sabercats Arena Football League team’s head offices were located there. Caracol Property Owner, the Bay West Development affiliate, obtained in August 2022 a modified loan allowing the entity to borrow up to $102.6 million, using the 550 East Brokaw property as collateral. This August 2022 mortgage was a modification of an April 2020 loan of $80.4 million, which itself was a modification of a February 2020 loan of $38 million, according to county documents.
The San Jose-approved development allows for the phased construction of seven office buildings totaling about 1.92 million square feet and two parking structures totaling roughly 1.65 million square feet. The location is less than a mile away and about a five-minute drive from the Super Micro primary headquarters campus at 980 Rock Ave. in San Jose, according to Google Maps.In 2013, the tech company bought the former headquarters campus of the San Jose Mercury News, which is now located in downtown San Jose. In 2018, the tech company bulldozed the newspaper’s former newsroom building.