OpenAI Inks 70,000 SQFT Lease With Peninsula Land & Capital at Power-Rich 2950 Zanker Road in San Jose
Why this matters
Land continues to behave as the highest-conviction long-duration bet in CRE. In supply-constrained luxury markets, replacement-cost-positive entitlements remain scarce; in growth-corridor exurbs, sponsors with patient capital are accumulating positions ahead of the next residential or industrial pipeline. 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. The trade is a basis call, not an income call, and continues to attract family-office and high-net-worth capital that can hold through the cycle.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 106th San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
- One of 15 land stories tracked on the wire in November 2026. All Land coverage →
Computed from Real Estate Trail’s own tracked coverage
OpenAI has signed a 70,000-square-foot direct lease at Peninsula Land & Capital's 2950 Zanker Road in North San Jose, according to Colliers, turning a negotiation The Registry flagged in September into one of the thir…
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