Cassidy Turley Significant Deals in Northern California – April 30, 2013

Published on April 30, 2013


Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced

Samsung Semiconductor Continues Strategic Positioning in Silicon Valley with 187,134 SF Lease in Milpitas and 8,798 SF Lease in Menlo Park
Steven Chon and Sofi Choi with Cassidy Turley represented Samsung Semiconductor, Inc. in the lease of an entire 187,134-square-foot Class A R&D facility in Milpitas. Owned by RREEF, the freestanding building is located at 601 McCarthy Boulevard. The property is set within the Silicon Valley’s “Golden Triangle” area—highly regarded for its cluster of industry-leading and influential high-tech companies—and was formerly utilized by SanDisk Corporation. Samsung will utilize the property as a temporary home for workers during the construction of its new ±680,000-square-foot campus in North San Jose. Chon and Choi also represented Samsung Semiconductor in a new 8,798-square-foot lease at the Quadrus campus on Sand Hill Road in Menlo Park.

The leases are reflective of Samsung Semiconductor’s continued strategic positioning, marking the company’s second major lease signed in this northern Silicon Valley area over the past few months, as well as its second lease within the Quadrus campus in Menlo Park during the same period.


Apple, Inc. Grabs 53,088 SF High-Image, Class A Building in Sunnyvale
Dan Hollingsworth, Steve Pace and Karen Sigl with Cassidy Turley represented landlord Westcore Properties in the lease of an entire 53,088-square-foot Class A R&D building in Sunnyvale to Apple, Inc. The two-story, high-image corporate building is located at 455 DeGuigne Drive in the eastern part of the city. Westcore, which has owned the building for over five years, recently completed market-ready improvements to include an open flexible floor plan, new carpet and paint, plus lobby and landscaping upgrades. The property features basketball and sand volleyball courts and provides convenient access to Lawrence Expressway, Central Expressway and Highway 101. The building was previously leased to Tandberg Television, a wholly owned subsidiary of Ericsson.


DataDirect Networks Moving to 50,500 SF Space in Newly Upgraded Santa Clara Building in City’s Biz Hub
Erik Hallgrimson, Brandon Bain and Kalil Jenab with Cassidy Turley teamed up to represent landlord Four Corners Properties in leasing 50,500 square feet of R&D/office space in Santa Clara to new tenant DataDirect Networks, Inc. The privately-held, data storage infrastructure provider will be relocating from Sunnyvale’s Moffett Park to its new location at 2901 Patrick Henry Drive. The space represents the majority of a larger 82,278 square foot, single-story building at 2901-2929 Patrick Henry Drive that was previously home to Monta Vista. The remaining 32,100 square feet in the building is currently vacant and available for lease. Four Corners acquired the building two years ago and recently completed extensive upgrades to the property, to include brand new interiors, exterior landscaping, a new serene landscaped garden with outdoor patio, and two new Bocce ball courts that improved the building to more Class A condition. DataDirect’s new space is walking distance to many amenities and public transportation, and provides easy access to Highways 101 and 237. The property is also walking distance to the future 49er stadium.


Spectra Laboratories Renews/Expands in 129,060 SF at Oak Creek Business Park in Milpitas
 Greg Davies with Cassidy Turley joined by Scott Macdonald represented landlord iStar Financial in the long-term lease renewal and expansion of 129,060 square feet at the prestigious Oak Creek Business Park in Milpitas to Spectra Laboratories. Spectra, a full service analytical laboratory providing environmental analytical services, renewed the entire 93,324 square feet in the single-story building at 525 Sycamore Drive which it has leased since 2006 and then expanded into 35,937 square feet on the second floor of the adjacent two-story building at 501 Sycamore Drive. The first floor of the latter building is currently vacant. The properties are part of a larger three-building campus fully owned by iStar. The third building in the project at 475 Sycamore is fully leased to Quantros, Inc. The Oak Creek Business Park feature sand volleyball courts, patio area and fountains, and provides excellent access to Highways 880, 237 and 101.


Dollinger Properties Acquires 3.28 Acres of Undeveloped Land in Central Sunnyvale
Steve Horton, Brian McClenahan and Kelly Yoder with Cassidy Turley represented buyer Dollinger Properties in the acquisition of 3.28 acres of vacant land in Sunnyvale from seller TWC Sunnyvale, LLC. The undeveloped property is well positioned at 1165 East Arques Avenue, at the corner of Lawrence Expressway. The property has great visibility from the busy expressway, is surrounded by major companies and is walking distance to several retail services. In addition to direct access to Lawrence Expressway, the site is also conveniently located near Central Expressway and Highway 101. The property is one of the few undeveloped, vacant land parcels that the city has to offer. Specific development plans for the site are unknown at this time.


Peninsula Packaging Expands to 115,200 SF of Industrial Space in Hollister, More Than Doubling Occupancy
Michael Bassetti and Michael Schoeder with Cassidy Turley represented both landlord, Ken & Jill, LLC, and tenant, Peninsula Packaging, LLC in the lease of 115,200 square feet of industrial space at 2451 Bert Drive in Hollister. Peninsula Packaging, which manufactures packaging products for food packaging markets, is renewing and expanding its operation more than twofold, from its previous 50,000 square feet occupied in the building. The space represents the majority of the 170,144-square-foot facility, which Ken & Jill acquired over a year ago. Peninsula Packaging manufacturers packaging products for food packaging markets; including: fresh produce, bakery, confectionary, convenience (grab-n-go) and food processors. Peninsula's products meet, or exceed, the sustainability in packaging requirements of major retailers (eg Costco, Wal*Mart, Sam's).


StemCells Leases 18,700 SF of Space in Sunnyvale
Steve Horton, Alan Guterman, Randy Arrillaga and Kelly Yoder with Cassidy Turley represented landlord Prologis in the lease of 18,700 square feet of R&D space at 249 Humboldt Court in Sunnyvale. The new tenant is StemCells, Inc., which will be relocating from Mountain View. StemCells, Inc., whose corporate headquarters is based in Newark, signed a long-term lease for its new Sunnyvale space.

Cassidy Turley provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.

 

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.

Cassidy Turley provides regional real estate services in Northern California. With 15 Northern California offices and a 400-member team, Cassidy Turley’s market leadership is demonstrated by completion of over 3,600 transactions, totaling $4.9 billion in 2012.


Contact:

Mark Bollozos
415.781.8100

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