October 21, 2013, San Jose – Edgewater Networks, a company using unique innovations in SDN and NFV to enable service providers to quickly and profitably deliver a new class of business services , has signed a long term lease at the Hellyer Oaks Technology Park in South San Jose. Edgewater Networks, who signed the lease for about 38,000 square feet with the project’s owner, Guggenheim Real Estate, will expand and relocate their US headquarter location from Santa Clara to the South San Jose project.
Edgewater Networks currently occupies 24,080 square feet located at 2895 Northwestern Parkway in Santa Clara which has housed their operations for the previous five years. The company has chosen to migrate south and will relocate their headquarters facility to the South San Jose office/R&D project before the end of this year, a migration trend seen many times before in the Silicon Valley. They will not only benefit from the lower rental rates that South San Jose has to offer, but will also enjoy new amenities within the project and surrounding area – which is far less impacted by surrounding buildings than their current location in Santa Clara. “They are thrilled with the new location.” Said Michael Rosendin, SIOR, CCIM Senior Vice President and Director with Colliers International who represented Edgewater Networks. “The reverse commute, attractiveness of the rural environment and its natural beauty, expansion opportunities, and overall quality/value factored in their decision to relocate and expand in South San Jose.”
The new space on Hellyer Avenue is a portion of a larger 350,000 square foot project within the Hellyer Oaks Technology Park. The office/R&D facility is institutionally owned by Guggenheim Real Estate and managed by Seagate Properties. It features timeless architectural design offering floor to ceiling glass, an exercise room with showers and lockers, an outdoor sand volleyball court and BBQ area serve the complex. The project is located within the Edenvale Enterprise Zone and surrounded by the picturesque setting of Coyote Creek and the rolling hills and jogging/biking trails.
Craig Fordyce, SIOR, CCIM a Senior Vice President with Colliers International in San Jose represented Guggenheim Real Estate and Seagate Properties. “We’re open for business. We can offer attractive rents for large spaces and generous TI packages. The economic rates we can achieve and the reverse commute cannot be touched by the Northern markets” said Fordyce.
John McMahon, Paul McManus, and Michael Rosendin SIOR, CCIM of Colliers International represented Edgewater Networks. The terms of the transaction were not disclosed.
About Edgewater Networks
Edgewater Networks has more than 10 years of experience in providing managed services platforms for the delivery of IP-based voice, video and data services. More than 4 million Edgewater ESBC sessions are currently deployed by some of the largest service providers, including one of the two largest U.S. carriers and three of the top five U.S. cable operators. The company is developing a new patent-pending platform that employs recent advances in SDN and NFV to open new markets for service providers by allowing them to quickly and profitably deliver a new class of business services. To learn more about Edgewater Networks solutions please visit www.edgewaternetworks.com
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.