SAN JOSE — A proposed tech and office campus development site in San Jose was put up for sale, raising uncertainties about the future of the downtown property.

The project site, at 447 South Almaden Blvd. near State Route 87 and the Children’s Discovery Museum, was previously approved for the development of an office hub that, if built, would total 1.6 million square feet, according to documents on file with city planners.

BXP, once known as Boston Properties, had proposed the development at the height of the tech boom in recent years.

“There is not a lot of activity in downtown office space right now,” said David Sandlin, an executive vice president with commercial real estate firm Colliers. “At the current distressed prices for office space, I can see the owner trying to see if they can sell it.”

BXP never broke ground on the project, which would have sprouted along the banks of the Guadalupe River and Discovery Meadow across the street from the San Jose Convention Center.

“All development sites that were previously imagined as offices now have to work through the complexities of finding the highest and best use in the current market,” said Bob Staedler, principal executive with land-use consultancy Silicon Valley Synergy.

Newmark, a commercial real estate firm, is seeking a buyer for the property, according to a marketing brochure obtained by this news organization. Newmark executives Steven Golubchik, Edmund Najera and Ramsay Daya are leading the marketing efforts.

“This is a very good site,” Staedler said. “The strength of downtown San Jose will prevail.”

While approved for an office project, the Newmark team notes that the overall zoning allows for considerable flexibility should a new owner have a different plan.

Residential, commercial, or mixed-use projects are possible on the site, according to the marketing materials, since the umbrella zoning designation is “Downtown Primary Commercial.”

“447 South Almaden Boulevard offers investors a rare opportunity to acquire a 3.7-acre development site with near-term cash flow and long-term redevelopment optionality in one of the Bay Area’s most dynamic urban markets,” the Newmark sales brochure states.

At present, the property is being used as a surface parking lot with 426 stalls.

The city of San Jose is leasing the property through the end of June 2027.

“I could easily see a buyer going with housing,” Sandlin said. “There is an oversupply of office space downtown, but that is temporary. But for now, housing makes more sense than office space.”