Mahan Seeks Permanent Easement on 565 Hillside Acres Around Former IBM Almaden Campus Ahead of Blackstart Data Center Deal
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
- The 156th San Francisco story tracked on the wire in October 2026. All San Francisco coverage →
- Disclosed industrial deal value tracked in October 2026: $2.7B across 30 reported transactions. All Industrial coverage →
Computed from Real Estate Trail’s own tracked coverage
San Jose Mayor Matt Mahan and District 10 Councilmember George Casey are pressing for a legally binding conservation easement over roughly 565 acres of hillside surrounding the former IBM Almaden Research Center, clos…
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