SAN FRANCISCO– October 8, 2014 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announces the following lease transactions originated in the firm’s Northern California offices:
Box Leases Entire New Crossing/900 Campus in Downtown Redwood City for HQ
The ownership of Kilroy Realty Corporation and Hunter/Storm have reached an agreement with tenant Box, Inc., a leading provider of secure cloud content management services for global businesses, in the signing of an approximate 12-year lease for the entire 334,000 square foot Crossing/900 office campus in downtown Redwood City. Located at 900 Middlefield Road, near the city’s Caltrain station, the Korth Sunseri Hagey-designed, two-building Class A project is currently under construction. Crossing/900 is being designed for LEED Gold certification. Mike Moran and Ben Paul with Cassidy Turley represented the landlord in the transaction.
Mr. Moran said, “It has been a pleasure working with Kilroy and Hunter/Storm on the leasing of this world class project, and we are thrilled to have secured a growing, respected company such as Box. Crossing/900 has proven to be the ultimate draw for today’s bleeding edge companies who seek a modern urban environment, with connectivity and accessibility, all packaged in a sophisticated wrapper.”
Mr. Paul added, “There is a real scarcity of new construction, Class A campuses of this magnitude with such attractive features, particularly on the Peninsula. Clearly, Kilroy and Hunter/Storm were spot-on in fast-tracking the delivery of Crossing/900 on a speculative basis.”
Located in the city’s downtown core, Crossing/900 presents a transit oriented location just steps away from Caltrain and SamsTrans Transit Hub, while its urban setting puts it within walking distance to some of the Peninsula’s most sought after amenities. On-site attractions will include approximately 5,000 square feet of retail, an elevated terrace for events and entertaining, a planned restaurant, and ±200 bike lockers. At five and seven stories, each of the buildings will also provide commanding 360 degree views of the Skyline Mountains and San Francisco Bay.
Box, which is expanding its headquarters more than threefold from Los Altos, will be taking occupancy of the first building, totaling approximately 226,000 square feet, in the third quarter of 2015 and the second building, totaling approximately 108,000 square feet, in early 2017.
Flextronics Subleases ±330,100 SF Manufacturing Facility in Northern Chicago
Flextronics International USA, Inc. has subleased a 330,132 square foot manufacturing facility in northern Chicago, IL to expand its operation and grow new business. Its newest Midwest facility is located at 700-750 Corporate Grove Drive in the city of Buffalo Grove. The master tenant is Rexam Beverage Can Co. Flextronics currently operates several manufacturing facilities throughout North America, to include the U.S., Canada and Mexico. Flextronics’ U.S. headquarters is currently based in multiple locations in Milpitas/North San Jose. The Cassidy Turley team of Dan Hollingsworth, Steve Pace, Tom McGovern and Karen Sigl based in San Jose exclusively represent Flextronics International USA, Inc.
Headquartered in Singapore, Flextronics is a leading Electronics Manufacturing Services (EMS) provider. Flextronics employs over 200,000 people. For more information, please visit www.flextronics.com.
Tableau Software Relocating/Expanding Local Offices to New Class A+ Building in Palo Alto
Tableau Software, a leading business intelligence and analytics software company, has inked a lease to take 100% of the office space in the newly constructed 30,000 square foot Class A+ office building with ground floor restaurant space on California Avenue in Palo Alto, CA. The Seattle-based company, which specializes in data visualization products, will relocate its growing Silicon Valley operation from Menlo Park to the new building at 260 California Avenue upon construction’s completion in December 2014. Located along the newly revitalized California Avenue corridor only two blocks from a Cal Train station, the Class A+ building is being developed by Presidio Development Partners.
“We are very pleased to have such an outstanding Stanford incubated company return to Palo Alto and become a central part of our new building,” said Mark Monroe, President of Presidio.
Tableau was represented by Parker Ferguson of Flinn Ferguson Corporate Real Estate in Seattle in collaboration with Clark Heppberger, Kevin Waldman, and Clarke Funkhouser with Cassidy Turley.
Gazillion Entertainment Relocating to New Class A Digs at Parkside Towers in Foster City
Gazillion Entertainment, a privately held developer and publisher of free-to-play online video games, has signed a lease that will relocate its offices to 29,468 square feet at the Parkside Towers office project in Foster City, CA. The gaming company, most popular for its Marvel Heroes series among others, will be moving from its current offices in San Mateo. Parkside Towers is newly owned by Chicago-based investment firm, Heitman and managed by Harvest Properties. Ben Paul and Nick Lazzarini with Cassidy Turley represented Gazillion in the transaction.
BeneSys Nearly Doubles Western Headquarters in Pleasanton
BeneSys, Inc., an employer benefits services firm, has recently completed a lease transaction to double the size of its Western headquarters into a total of 20,454 square feet in Pleasanton, CA. BeneSys’ offices are located at 7180 Koll Center Parkway within the Bernal Corporate Park, owned by Golden Canyon Partners. The company had been leasing approximately 11,400 square feet at Bernal Corporate Park. Justin Grilli with Cassidy Turley represented BeneSys in the transaction.
BeneSys provides health care and pension administrative and I.T. services in Michigan, California, Missouri, Iowa, Kentucky, Nevada and Ohio. For more information, visit http://www.benesysinc.com/dnn/
Equity Office’s @METROCENTER Signs on Conviva, which is Expanding Peninsula Presence
Conviva, the leader in real-time big data, viewer-centric video optimization, has signed a lease to relocate and expand its offices threefold into 33,439 square feet at the elegant @METROCENTER campus in downtown Foster City. Currently based in approximately 11,100 square feet in San Mateo, Conviva plans to move its offices to the top floor of the four-story building located at 989 E. Hillsdale Boulevard in early 2015. Owned by Equity Office Properties, @METROCENTER is a Class A, five building, 820,000 square foot master planned, mixed-use center in a centralized Peninsula location nearby many retail and residential amenities. Mike Moran, Ben Paul, Clark Funkhouser and Kevin Waldman with Cassidy Turley represented the landlord in the transaction.
ViewRay Leases 25,518 SF Building at Mountain View Research Park
ViewRay, a medical device company specializing in radiation therapy technology for the treatment of cancer, has leased a 25,518 square foot R&D/office building within the Mountain View Research Park. Owned by Boston Properties, the building is located at 815 E. Middlefield Road in the city of Mountain View. The property includes fully new interiors and restroom core with showers, plus a renovated exterior facade. The Mountain View Research Park consists of 15 buildings that are leased to several tech and biotech companies. Steve Horton, Colin Feichtmeir and Kelly Yoder with Cassidy Turley represented Boston Properties in the transaction.
Energous Corp. Moving Headquarters to Northpointe Business Center, San Jose
Energous Corp. has leased 15,300 square feet at the Northpointe Business Center located at 3590 N. First Street in north San Jose, CA. The three-story, Class A building is owned by Balzer Family Investments LP. Energous plans to relocate its headquarters to the building’s second floor once tenant improvements are completed in November. Wendy Roberts, Steve Horton and Kelly Yoder with Cassidy Turley represented the landlord in the transaction.
New Teacher Center Leases Fifth Floor at Santa Cruz’s Cooper House
New Teacher Center (NTC) has leased the entire fifth floor office space at the Cooper House in downtown Santa Cruz, CA. NTC, a national non-profit dedicated to improving student learning by improving new teacher effectiveness, leased 14,769 square feet of space and plans to take occupancy in December. Located on the top floor, the space features ocean views and balconies. Cooper House is a five-story, Class A mixed-use building located at 110 Cooper Street at the corner of Pacific Avenue and is owned by Jay Paul. Reuben Helick with Cassidy Turley represented the landlord in the transaction.
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.
Lead Contacts (listed alphabetical by first name):
Ben Paul, (650) 347-3700, Ben.Paul@cassidyturley.com
Clark Heppberger, (650) 852-1200, Clark.Heppberger@cassidyturley.com
Dan Hollingsworth, (408) 615-3400, Dan.Hollingsworth@cassidyturey.com
Justin Grilli, (925) 621-3840, Justin.Grilli@cassidyturley.com
Mike Moran, (650) 347-3700, Mike.Moran@cassidyturley.com
Reuben Helick, (831) 375-8000, Reuben.Helick@cassidyturley.com
Steve Horton, (408) 615-3400, Steve.Horton@cassidyturley.com
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About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, 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 $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 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. Please visit www.cassidyturley.com for more information.