Cassidy Turley Significant Deals in Northern California – March 20, 2012

Published on March 20, 2012


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

Flextronics Expanding U.S. Headquarters with 130,455 SF Lease at America Center in North San Jose
The team of Dan Hollingsworth, Tom McGovern, Steve Pace and Karen Sigl with Cassidy Turley represented tenant Flextronics International USA, Inc. in its lease for 130,455 square feet of Class A office space at the new America Center campus in North San Jose. Flextronics will be expanding its U.S. headquarters, which is currently based in neighboring Milpitas.

Flextronics will be occupying more than half of the six-story 213,800-square-foot building located at 6201 America Center Drive. The company will be joining America Center’s other major tenant, Polycom, which had signed a lease for the entire sister building at 6001 America Center Drive last summer. America Center is owned by Legacy Partners, a San Francisco Bay Area-based full service real estate investment management company. The project is positioned at the foot of the San Francisco Bay, at the junction of Great America Parkway and Highway 237.

Mr. Hollingsworth stated, “Among other benefits, the new work environment is expected to enhance Flextronics’ ability to continue to attract top skilled professionals to the company.”

Flextronics also continues to occupy hundreds of thousands of square feet of industrial-oriented property in multiple buildings throughout the local area for manufacturing and distribution purposes. The Cassidy Turley team exclusively represents Flextronics International USA, Inc.

Headquartered in Singapore, Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to aerospace and defense, automotive, computing, consumer, industrial, infrastructure, medical, clean tech and mobile OEMs. Flextronics helps customers design, build, ship and service electronics products through a network of facilities in 30 countries on four continents. For more information, please visit www.flextronics.com.


William Spencer Expands R.E. Ownership with Purchase of 132,000 SF Warehouse/Distribution Facility in Brisbane for $16 Million; And Executes Lease for 42K SF Building

Marshall Hydorn with Cassidy Turley represented buyer William Spencer in the acquisition of a 132,000-square-foot warehouse facility situated on 4.96 acres in Brisbane for an even $16,000,000 ($121 per square foot). The property is located at 325 Valley Drive. The seller was IAC 325 Valley Drive, LLC. William Spencer is considered both an owner/user and investor in the transaction, as the company may utilize the property and/or bring to market for lease a portion or potentially all of the property to future tenant(s). The property features up to 24,800 square feet of office, a monitored sprinkler system, heavy power, 15 dock high and 1 grade level doors, new warehouse lighting, and new restroom core. It also provides easy access to Highway 101 and SFO Airport.

Notably, in a recent separate transaction, Hydorn and Jason Cranston also of Cassidy Turley also just represented William Spencer as landlord in the leasing of ±42,000 square feet at 355 Valley Drive to new tenant AT&T.


Relectric Supply Slides into 76,972 SF Industrial Building in North San Jose; Expands Operation in Area

Steve Horton and Kelly Yoder with Cassidy Turley represented tenant Relectric Supply Company in the lease of an entire 76,972-square-foot industrial building in North San Jose. The property is located at 2390 Zanker Road and is owned by RREEF. Relectric relocated and expanded nearly threefold from roughly 26,000 square feet that it had operated in for several years about a mile away on Rogers Avenue in North San Jose. Relectric’s new building is comprised of 20% office (two-story) and 80% manufacturing/warehouse space and provides excellent access to Interstate 880 and Highways 101 and 87. Relectric is a national supplier of new and reconditioned used and obsolete circuit breakers, electrical distribution and control equipment, and is a member of the Better Business Bureau of Santa Clara Valley.


Actuate Signs Lease of 58,069 SF, Relocating Headquarters to Equity Office's San Mateo BayCenter Project

Actuate Corporation, the leader in open source business intelligence software and consulting services, has signed a lease to relocate its corporate headquarters into 58,069 square feet at Equity Office Properties' San Mateo BayCenter project located at 951 Mariners Island Boulevard in San Mateo. Actuate will occupy the entire 7th, 6th and 5th floors at the building. Mike Moran, Clarke Funkhouser and Kevin Waldman with Cassidy Turley represented property owner Equity Office Properties in this transaction. San Mateo BayCenter is a three-building project totaling 306,000 square feet. It features a fitness center, a large conference room and is ideally located immediately off Highways 92 and 101 in the heart of San Mateo’s business and retail center. The property is walking distance to Bridgepointe Shopping Center, and only 5 minutes to SFO Airport and 20 minutes from Downtown San Francisco.


Responsys Relocating Corporate Headquarters to 58,388 SF at Bayhill Office Center in San Bruno

Kevin Waldman and Clarke Funkhouser with Cassidy Turley represented Responsys in the lease of 58,388 square feet of office space at 1100 Grundy Lane within Equity Office's Bayhill Office Center in San Bruno. Responsys will be relocating its worldwide headquarters to the building beginning in June 2012, and will become one of Equity Office's largest tenants in the Bayhill complex. Responsys is the leading provider of email and cross-channel marketing solutions that enable companies to engage in relationship marketing across the interactive channels customers are embracing today—email, mobile, social, display and the web. This transaction was one of Equity Office Properties’ largest transactions on the Peninsula for 2011.


NetSuite Signs Long-Term Renewal of 79,859 SF Space at Peninsula Office Park in San Mateo

Ben Paul and Randy Keller with Cassidy Turley represented tenant NetSuite in its lease renewal of 79,589 square feet of Class A office space spanning multiple floors at 2955 Campus Drive within the Peninsula Office Park in San Mateo. The property is owned by Equity Office Properties. NetSuite, the world's leading provider of cloud-based business management software, has been a tenant of the Park since 2003 when the company had initially began in 15,747 square feet on the ground floor. NetSuite penned the long-term renewal in December, with the new agreed term commencing later this year.


Intermedia.net Keeping Growth Trend High in the Clouds at Mountain View Research Park ; Company Takes 25,518 SF

Steve Horton, Colin Feichtmeir and Kelly Yoder with Cassidy Turley represented landlord Boston Properties in a new 25,518-square-foot lease transaction at the Mountain View Research Park. The newest company to join the project is Intermedia.net, which leased up the entire single-story building located at 815 East Middlefield Road. Intermedia is the premier provider of cloud services to small and mid-sized businesses. Founded in 1995, Intermedia was the first company to offer business-class cloud email and now has 400,000 premium hosted Exchange mailboxes under management — more than any other provider. Mountain View Research Park, a 16–building R&D/office project totaling ±600,449 square feet, has had tremendous occupancy growth over the past six months, adding more than 130,000 square feet of new tenancy with multiple tenants. The park is conveniently located in the affluent city of Mountain View with immediate access to Central Expressway and Highways 237, 101 and 85.


SVTC Technologies Conducts Long-Term Renewal on 80,908 SF Corporate HQ in North San Jose

Drew Arvay and Derik Benson with Cassidy Turley represented property owner Alan & Kathleen Zatopa in renewing the lease of existing tenant SVTC Technologies, LLC at its 80,908-square-foot research and development facility in North San Jose. Located at 3833 North First Street, just north of Tasman Drive, the facility has served as SVTC’s corporate headquarters since 2007. The company inked a long-term renewal. SVTC Technologies provides development and commercialization services for innovative semiconductor process-based technologies and products.


GSA Lands at 36,057 SF R&D/Flex Building Near San Jose Airport

Brandon Bain, CCIM, Dennis Chambers and Robert Russell with Cassidy Turley represented owner Hunter Storm Properties in the lease of a 36,057-square-foot R&D/flex building at 1450 Coleman Avenue in the city of Santa Clara. The tenant is U.S. General Services Administration (GSA), which inked a long-term deal for the single-story building situated on ± 3.73 acres and adjacent to the San Jose Airport. The property was last home to BAE Systems.


SS8 Networks Renews 44,624 SF R&D Building at Tasman Technology Park, Milpitas

Gregory M. Davies, Steve Horton, Colin Feichtmeir and Kelly Yoder with Cassidy Turley represented property owner RREEF in the renewal of existing tenant SS8 Networks, Inc. at its 44,624-square-foot R&D building at the Tasman Technology Park in Milpitas. SS8, the global leader of lawful intercept solutions for telecommunication service providers, law enforcement, government, and intelligence agencies, recommitted to the building at 750 Tasman Drive where it has been a tenant since 2007. The Tasman Technology Park is a 14-building project located along Tasman Drive, McCarthy Boulevard and Alder Drive and provides close proximity to McCarthy Ranch Marketplace & Great Mall and access to 880, 237 and Montague Expressway.


World-leading Gatan, Inc. Signs Long-Term Renewal of 37,628 SF in Pleasanton

Chris Crabtree with Cassidy Turley in conjunction with Eric Ramer of ICON Commercial Interests, LLC represented tenant Gatan, Inc. in a long-term lease renewal of 37,628 square feet of R&D space at the HBP - Arroyo Center located on West Las Positas Boulevard in Pleasanton. The two-building project is owned by Cannae Partners. Gatan is one of the major tenants of the project—which once housed Intel Corporation—that is currently also home to internet service provider Autonomy. Established over 40 years ago, today Gatan is the world's leading manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes.

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 3,500 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 2011, 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 of North America through a partnership with GVA, giving clients access to commercial real estate professionals across the globe. 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, our Northern California market leadership is demonstrated by completion of over 3,300 transactions, totaling over $4.3 billion in 2011.

Contact:
Mark Bollozos
415.781.8100

 

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