San Jose, Calif. – August 26, 2021 – CBRE Global investors, on behalf of one of its investment funds, announced that Bloom Energy signed a deal to renew expand its current 102,795-square-foot lease at 237@First in San Jose, Calif. by leasing an additional 47,123 square feet. Bloom Energy – which delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications – will add a floor and a half to its footprint and will now occupy floors one, two, four, five and six at the two-building office complex.
“After acquiring 237@First last year, we were able to activate a best-in-class management and leasing team to enhance the tenant experience and drive leasing. We were also able to upgrade underutilized common areas and enhance the communal outdoor space,” said Brian Ma, Senior Director of Commercial Operations for CBRE Global Investors. “These positive changes at the property contributed to Bloom Energy’s decision to renew its lease and expand by an additional 47,000 square feet, making 237@First its long-term headquarters.”
237@First is LEED Gold Certified and spans 368,702 square feet across two buildings located at 4353 North First Street, where Bloom Energy is located, and 4453 North First Street. The high-end office buildings feature 14’ to 16’ slab-to-slab heights, expansive window lines affording panoramic views and abundant light, dramatic lobbies, and flexible 32,800-square-foot column-free floor plates that can efficiently accommodate a de-densified floor plan. Tenant amenities include a fitness center with a yoga studio and several large outdoor collaboration areas, a sought-after feature. The property is 50% leased, with spaces ranging from 32,000 square feet to 96,000 square feet remaining available.
CBRE Global Investors was represented by Jeff Houston and Vincent Scott of CBRE in the transaction.
“237@First continues to be an ideal headquarters for Bloom Energy, especially as the company continues to grow. The location affords their employees easy access to multiple highways, including Interstates 237, 880 and U.S. 101, abundant retail, and an impressive on-site amenity package,” said Scott.
237@First is located along the heavily trafficked Interstate 237 corridor, providing prominent exposure and regional access via direct connectivity to major highways and to the freeway. The location affords many tenants a reverse commute to the East Bay and Peninsula areas and is home to several major national and global corporations.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $129.1 billion in assets under management* as of June 30, 2021.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.