Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today
Medtronics Doubles Occupancy in Santa Rosa with 126,585 SF Lease Expansion/Extension
Jeff Negri, Niels von Doepp and Ryan Snow with Cassidy Turley recently represented landlord Equity Office Properties (EOP) in the lease expansion and extension of Medtronics that will increase the medical device company’s presence in Santa Rosa to a total of 126,585 square feet of Class A space. Medtronics, which develops and manufactures innovative medical device technology and therapies to treat chronic disease worldwide, signed a deal with EOP to expand into the entire 62,865-square-foot building at 3880 Brickway Boulevard, while also extending its current lease term at the neighboring 63,720-square-foot building at 3850 Brickway Boulevard, where it has been based for over seven and a half years. (Medtronics had initially subleased the 3850 Brickway building beginning in 2005 from Agilent Technologies, before shifting to a direct lease basis in 2009.) Rob Elia handled the latest lease expansion/extension agreement on behalf of EOP. Negotiations between the two sides had been in the works for several months prior to being fully executed in the first week of October.
Situated in Santa Rosa’s Airport Business District, Medtronics’ two 2-story Class A buildings boast high identity locations and offer excellent views from expansive window lines. The buildings are easily accessible to Highway 101 via Airport Boulevard, and are walking distance to restaurants, hotels, theaters, retail and Airport Health & Racquet club. They are also within minutes of championship golf courses, executive housing, and hotel & conference facilities.
Notably, within days of completing the lease with Medtronics, Equity Office Properties sold the buildings to Basin Street Properties as part of the disposition of EOP’s entire Sonoma County portfolio.
ROHM Semiconductor U.S.A. Purchases 37,000+ SF Building in Santa Clara; Company to Double Silicon Valley Presence
Wendy Roberts and Kent Hillhouse with Cassidy Turley represented buyer ROHM Semiconductor U.S.A., LLC in the acquisition of a 37,552-square-foot R&D/office building at 2323 Owen Street in Santa Clara from South Bay Development. ROHM’s new single-story building is situated on approximately 2.8 acres of land at the corner of Owen Street and San Tomas Expressway, set midway between Highway 101 and Central Expressway. ROHM plans to occupy a portion of this property, and will retain Roberts and Hillhouse to handle the leasing assignment of the vacant balance. With this acquisition, ROHM will be nearly doubling its presence in Silicon Valley with plans for continued expansion in the near-term.
Nader Sadrzadeh, Vice President of Operations with ROHM, said, "This was a long-term, strategic decision for the company.” He added, “The property was really the right size for us. While we can't occupy the whole space right now, we may look to do that in the future."
ROHM Semiconductor USA, LLC is a wholly owned subsidiary of ROHM Co. Ltd, established in Kyoto, Japan in 1958. ROHM is an industry leader in system LSI, discrete components and module products, utilizing the latest in semiconductor technology. ROHM products support a wide range of applications, including industrial, automotive, communications, computer and medical, to name a few. ROHM employs over 21,000 people worldwide and posted sales of 304 billion yen in Fiscal Year 2011 (for the year ended March 31, 2012).
Samsung Semiconductor Leases 51,151 SF R&D Building in North San Jose Plus Small Office in Menlo Park
Steven Chon, Sofi Choi, Steve Horton, Alan Guterman, Eric Fox and Kelly Yoder with Cassidy Turley have collaborated to arrange the lease of a 51,151-square-foot property in North San Jose between tenant Samsung Semiconductor and landlord Deerfield Realty Corporation. Samsung signed an agreement to lease the entire single-story R&D building located at 217 Devcon Drive, positioned within the desirable North First Street Corridor, an area highly regarded as a mecca for high-tech companies. The building was fully refurbished and recently completed brand new interiors in 2010. It is close proximity to Mineta San Jose International Airport, light rail accessible and is walking distance to numerous amenities to include 24 Hour Fitness, restaurants & hotels. Chon and Choi represented Samsung in the transaction, and Horton, Guterman, Fox and Yoder represented Deerfield.
Chon and Choi also represented Samsung Semiconductor in a second lease transaction in the city of Menlo Park. Samsung signed a lease for 6,636 square feet of office space at the Quadrus Office Complex located along the prestigious Sand Hill Road. That property is owned by Quadrus.
South Bay Development Sells 86,000 SF Building in North San Jose to Oplink Communications
Dan Hollingsworth, Steve Pace and Karen Sigl with Cassidy Turley represented seller South Bay Development Company in the sale of an 86,000-square-foot R&D/flex building in North San Jose to Oplink Communications, Inc. The partial two-story building is located at 1710 Fortune Drive and is situated within the Fortune Technology Park. The building is positioned at a high-identity corner location at Fortune Drive and Ringwood Avenue. Oplink will be utilizing the entire building for its operation. Oplink designs, manufactures and supplies fiber optic products and services for the telecommunications industry.
SPG Solar Looks to Shine in North Bay with 25,418 SF Lease for Corporate HQ in Petaluma
Brian Foster, Trevor Buck and Steven Leonard with Cassidy Turley represented tenant SPG Solar in the lease of 25,418 square feet of office/flex space at 1039 North McDowell Boulevard in Petaluma for the company’s corporate headquarters. The space represents approximately half of the single-story freestanding building, which is part of a larger three-building campus. SPG Solar, a leading provider of commercial solar power products and services with 11+ years of experience, is scheduled for occupancy January 1, 2013 and will build out the property with a state-of-the-art R&D facility, interactive customer center and expanded warehouse space.
“This is a strategic business move for us, so we looked extensively for just the right location,” said Doug May, CEO of SPG Solar. “Petaluma gives us the best possible combination of the right space, a strong business community, and a growing renewable energy sector.”
Built in 2000, the McDowell campus is close to Old Redwood Highway @ Highway 101, providing good freeway visibility. The property is located near shopping and restaurants and features a picnic/recreation area, a sand volleyball court and an outside lunch seating area. It is well positioned just 10 minutes from Marin County and 15 minutes from Santa Rosa.
Since 2001, SPG Solar has been designing, engineering, building and maintaining high-quality solar power systems for large commercial, industrial, governmental and public energy users. For more information about SPG Solar, visit www.spgsolar.com.
Vallejo Marine Terminal, LLC Buys Former General Mills Property Along Vallejo Waterfront, Plans for Revitalization
Ted Gallagher and Eric Rehn, CCIM with Cassidy Turley represented both the Seller, Dickinson Financial Corporation (Kansas City, MO) and the Buyer, Vallejo Marine Terminal, LLC, in the sale of a ±27 acre industrial zoned, waterfront and rail served site along with a ±10 acre Leasehold interest on adjacent dock & piers in Vallejo for an undisclosed amount. The property included ±180,000 square feet of warehouses, office buildings, mill buildings and grain towers. The site is the former General Mills plant and has been vacant for over 7 years.
A representative from the Vallejo Marine Terminal, LLC stated that, “We are very excited about the opportunity, as well as the local community’s response towards the re-creation of a historically maritime terminal usage of this property. The navigational location within Northern California will allow the facility to fill a true void in the intermodal transfer of commodities, and we strongly believe that revitalization of this waterfront will help to provide commercial stimulus for Vallejo’s rebound.”
Pacific Gourmet Relocating Just South, from San Francisco to 70,335 SF in Brisbane
Randy Keller, Marshall Hydorn and Jason Cranston with Cassidy Turley represented Principal Real Estate Investors and Harvest Properties in the lease of an entire 70,335-square-foot warehouse building at the Crocker Industrial Park in Brisbane to new tenant Pacific Gourmet. The gourmet food distributor, which provides specialty and exotic foods to restaurants, hotels, and caterers worldwide, is relocating and expanding its entire operation from San Francisco. The facility is well located along the upper peninsula at 380 Valley Drive, set on a prime corner location with convenient access to Highway 101.
RH USA Relocating Operation to 30,179 SF Space in Livermore
Chris Crabtree with Cassidy Turley represented tenant RH USA in the lease of 30,179 square feet of R&D space in Livermore. The space is located at 455 North Canyons, situated within the Tech Park @ North Canyons project. Right sizing its operation to more efficient space, RH USA will be relocating just across Interstate 580 from a 43,337-square-foot building at 201 Lindbergh Avenue. Headquartered in Israel, RH USA is a contract manufacturer that specializes in medical devices.
Cassidy Turley provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties.
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 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 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, our Northern California market leadership is demonstrated by completion of over 3,300 transactions, totaling over $4.3 billion in 2011.