Data center could open in 2030 in North San Jose pending project approval
Prologis plans a 514,000 sq ft data center in North San Jose, operational by 2030, pending city and state approvals. The project includes 99 MW power capacity and relies on PG&E substation upgrades. Construction may start in Q1 2028, taking 22 months. Prologis will fund grid connections and aims for 100% carbon-free electricity.
How this was made
The 30-second read
Why it matters
The data‑center proposal could add a significant asset to Prologis' portfolio, but approvals and financing remain uncertain.
Market read
A long‑term development project with modest near‑term trading relevance.
What to watch
Potential changes in AI compute demand and electricity pricing could affect project economics.
Background
Prologis is a leading global logistics real‑estate provider; PG&E is the utility regulator for the project.
Ticker impact
Prologis announced a proposal for a 514,000‑sq‑ft data center in North San Jose pending city and regulator approval.
Modest upside over the next 2‑3 years if approvals are secured.
Project is early‑stage, with construction not starting until 2028; impact on near‑term price is limited.
Market effects
Highlights continued demand for data‑center real estate in the Bay Area.
May boost San Jose commercial‑real‑estate activity if approved.
Limited; primarily a regional development story.
Counterpoint
If regulatory hurdles delay the project, the anticipated demand could shift to competing sites.
Key entities
- CompanyPrologis
Global logistics real‑estate firm proposing the data center.
- UtilityPG&E
Regulator and provider of substation upgrades needed for the project.
