San Jose Approves Menlo Equities’ 97,800 SQFT Data Center Conversion at Nvidia-Leased 300 Holger Way
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.
Editorial analysis · AI-assisted
City approval clears a low-friction path to new AI infrastructure — no rezoning, no new footprint, just a rewiring of space Nvidia already occupies San Jose has cleared the way for a Silicon Valley research building a…
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