SANTA CLARA — Palo Alto Networks has bought the Santa Clara development site where a massive office complex has received city approvals, a tech campus that if built would be big enough for thousands of workers.
Acting through an affiliate, Palo Alto Networks paid $90 million for a site at 3625 Peterson Way that is across the street from the tech titan’s Santa Clara headquarters, documents filed on Dec. 11 with the Santa Clara County Recorder’s Office show.
The property is a 14.5-acre site for which real estate firm BXP had received the city’s go-ahead to develop a two-building office totaling 676,300 square feet. Each building totals 338,155 square feet, according to Santa Clara city planning records.
BXP never constructed the project. The site is currently bulldozed. Earlier this year, SummerHill Homes filed very preliminary plans to build housing on the site. However, the only project that’s received final city approval is the office campus.
The Palo Alto Networks affiliate bought the property through an all-cash deal, county real estate files show. The tech company appears to have acquired the site at a favorable price. The site’s assessed value in January 2025 was $89.1 million.
The cybersecurity company’s headquarters are at 3000 Tannery Way, which is adjacent to the site the company has just bought.
The development site for the proposed office campus could be large enough to accommodate roughly 2,700 to 3,400 workers if the buildings are fully occupied.
The vision for the campus shows two identical office buildings, each eight stories high, that would be connected by bridges on two levels, city planning documents show.
The office complex would also include multiple large open spaces and gathering areas, according to the planning files. The approved proposal also allows for a one-story amenities building totaling 13,400 square feet.
This news organization requested a comment or additional context from Palo Alto Networks regarding the situation.