CoreSite Drops $100M for Silicon Valley Trio

February 11, 2026

Investment Data Centers News Office More San Jose West

The properties are entitled for a 72-megawatt data center redevelopment.

Exterior shot of an office and R&D building at 2790 Walsh Ave. in Santa Clara, calif. — The buildings are in a critical data center location and include multiple tenant amenities as well as light industrial features. Image courtesy of Yardi Matrix

CoreSite has paid $100 million for three office and R&D buildings in Santa Clara, Calif., according to Santa Clara County public records. GI Partners sold the 210,500-square-foot trio.

The data center provider paid $57 million for the 104,000-square-foot building at 2805 Bowers Ave. and $43 million through a separate transaction for the 106,500-square-foot duo at 2855 Bowers Ave. and 2710 Walsh Ave.

CoreSite’s new properties traded for nearly 27 percent more than their previous sale price. Back in 2021, GI Partners acquired them for $79 million in an all-cash transaction, according to Yardi Matrix.

In 2024, GI Partners proposed a 72-megawatt data center redevelopment at 2805 Bowers Ave., with plans calling for the demolition of the office property and the construction of a 244,068-square-foot data center. Santa Clara City Council approved the project, initially estimated to come online as soon as 2028, according to Data Center Dynamics.

CoreSite has not responded to inquiries from Commercial Property Executive on whether it will move forward with this project or will advance a different plan, possibly involving all three properties. If it does, the potential redevelopment will represent the company’s 10th data center facility in Silicon Valley.

The buildings came online between 1975 and 1980. Occupying a total of 11.4 acres, the one- and two-story buildings include on-site conference rooms, tenant lounge spaces, a total of 595 parking spots and light industrial features such as two loading doors.

A Silicon Valley focus

CoreSite has nine data center facilities in Silicon Valley, with a combined footprint of more than 1.4 million square feet across Santa Clara, San Jose and Milpitas, Calif. Some of its facilities provide native onramps to the Google, Amazon and Microsoft cloud ecosystems. Its most recent development, dubbed SV9, is purposely built to support AI and ML applications.

Owned by American Tower, CoreSite is present in 11 U.S. markets. It has ongoing projects in New York City and Denver and is one of the largest data center developers in the U.S.

Another recent investment in the metro was Centersquare’s $97 million purchase of two facilities in Santa Clara late last year. The company acquired a 43.2-megawatt campus from Menlo Equities. Centersquare will continue to operate the facilities as part of its Silicon Valley campuses, encompassing 129.4 megawatts.