Renesas Electronics Submits Preliminary Review Application for 124,000 SQFT R&D Project in San Jose

Palo Alto, Renesas Electronics Corporation, San Jose, Newmark, BD
Courtesy of the City of San Jose

By Jack Stubbs

In early June, Renasas Electronics Corporation, which looks to provide comprehensive solutions in the automotive, industrial, home electronics and information communication technology sectors across the globe, made notable strides regarding a planned project of in San Jose.

On June 8, the company submitted a Preliminary Review Application to the City of San Jose to construct a new three-story, 124,000 square-foot research and development building on a two-parcel site – located at 6027 Silver Creek Valley Road – that totals roughly 20.48 acres.

According to the submitted application, the project site is designated as an Industrial Park within the Land Use/Transportation Diagram of the Envision San José 2040 General Plan, which is a designation intended for a wide variety of uses including R&D, manufacturing, assembly, testing and offices. 

City planners noted via email in advance of this story’s publication that a formal project application has not yet been submitted, and there may be changes to the project if and when it is submitted. The purpose of the Preliminary Review application is to provide comments on the submitted documents to address where the project may or may not meet the city’s policies and ordinances.

In terms of its subject matter, the Preliminary Review application covered the project’s site development permit, tree removal permit and the associated CEQA review.

According to the Project Narrative document submitted to the city, the existing grade parking on the site would remain unchanged, save for some modifications to the parking directly adjacent the proposed new building. According to the ‘Existing Parking Data’ section of the document, there are currently 924 parking stalls on the site; and according to the ‘New Parking Data’ section, there are 1,200 total parking stalls proposed.

In addition to the in-the-works project spearheaded by Renesas Electronics, San Jose has, over the last few weeks, been witness to a number of companies looking to make headway regarding R&D facilities throughout the city, both in terms of financial and development opportunities, according to The Registry’s reporting. 

In early May, an entity affiliated with Lafayette-based Cortese Investments acquired a 196,647 square-foot research and development asset located at 1710 Automation Parkway for $103.8 million, or about $527 per square foot.

In mid-May, San Francisco-based Presidio Bay Ventures kicked off a spec-development venture at 777 Industrial Road in San Carlos. The lab space/R&D project will have a total development cost in the range of $130 million to $140 million, according to the property owner, andit will look to reshape the landscape of the city’s burgeoning biotech space.

Most recently, at the end of May, Newmark announced that BD (Becton, Dickinson and Company), one of the largest medical technology companies in the world, had signed a 240,000-square-foot long-term lease at Park Point, a creative office/R&D campus located at 115, 135 and 155 North McCarthy Boulevard in Milpitas, California.

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