Kilroy, Synopsys Transform Mountain View Corridor

By Sharon Simonson

A dedicated cadre of project proponents and building contractors gathered Jan. 10 in Mountain View for the topping out ceremony of the new Synposys Inc. headquarters campus in Mountain View.

Synopsys Campus -renderingsAgainst a bracing wind and 50 degree temperatures, city Mayor John Inks told a standing crowd that the five-building, 340,000 square-foot campus represented a “construction milestone” for his community of 75,000 people.

The two, five-story buildings with their curved aspects and mirroring structures were designed by Clifford Chang, principal of Burlingame-based Chang Architecture Inc. They are light years removed from the single-story nondescript Hewlett-Packard Co. office campus they replace and transform a section of state Highway 237 frontage largely untouched since the mid-1960s.

The $200 million campus is the first ground-up development in Northern California for Kilroy Realty Corp., but it is one of three development projects that the Los Angeles-based real estate investment trust has secured in San Francisco and Silicon Valley in rapid succession since May. The other two projects are for Salesforce.com Inc. in San Francisco’s South of Market district and LinkedIn Corp. in Sunnyvale.

“Three and a half years ago, we didn’t own anything in Northern California, and now we are the largest owner in SoMa with two million square feet and have $850 million in pre-leased development,” John Kilroy, president and chief executive of the company, told the gathered crowd.

He and others congratulated Steve Dostart and Mollie Ricker of Dostart Development Co. LLC for executing a vision over more than a half decade, buying the 16 acres from HP in 2007 and carrying the property through the bust. Dostart’s financial partner was Rockwood Capital LLC.

“You all did all of the hard work,” Kilroy said. “You hung onto the property; you got a tenant aboard. We have the easy part.”

Dostart credited the city of Mountain View: “It took vision and patience to support a project like this through the tough economic times, including changes in entitlements. You guys hung in there with us, and that made the difference. Your can-do spirit made it happen.”

Synopsys specializes in electronic design automation and has 80 offices with more than 8,000 people in 20 countries, said Barbara Donaldson, vice president of global real estate and facilities for the company. “Engineers around the world use our technology to design [semiconductor] chips.”

The new campus will augment and replace the company’s existing 800,000 square feet in Mountain View, where it has 2,000 employees in eight buildings. The new campus is to be completed in the first quarter of 2015.

West Coast Commercial Real Estate News