San Jose Airport Expansion

Thursday, February 17, 2005
San Jose buys land to expand airport
The San Jose (CA) Business Journal

The city of San Jose has agreed to pay over $1 million per acre for a 52 acre parcel of land adjacent to the Norman Y. Mineta San Jose International Airport. The seller is FMC Corp. (NYSE: FMC), of Philadelphia, which had used the site for its military vehicle manufacturing operations, until it sold that unit to the Carlyle Group in 1997. The sales price for the land is $56.2 million.

An additional 23 acres are under contract to be sold to the city for $25.3 million.

The city initially plans to use the property for expansion at the airport.