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The Plant retail and restaurant center in San Jose lands big buyer

SAN JOSE — A high-profile San Jose retail and restaurant center has been bought by a real estate firm in a deal that shows big investors still hunger for physical stores in the wake of the coronavirus.

The Plant, located near downtown San Jose at the corner of Curtner Avenue and Monterey Road, has been bought by The Necessity Retail REIT. The real estate firm bought the South Bay retail complex as part of a $1.3 billion purchase of a package of commercial properties.

Necessity Retail paid $175 million for The Plant, the real estate firm said Tuesday.

“The Plant is a highly desirable asset in the portfolio of open-air shopping centers we have acquired in 2022,” Michael Weil, chief executive officer of Necessity Retail, said in a prepared release.

Section of one of the buildings in The Plant retail and restaurant complex, located at 1 Curtner Ave. in San Jose. 

Located at 1 Curtner Ave. in San Jose, The Plant totals 509,000 square feet.

The Plant was built through the redevelopment of a long-time General Electric factory at that site. Some of the old GE structures were retained in the development project.

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