Latest Leases and Sales Closed by Cassidy Turley in Northern California – June 11, 2014

SAN FRANCISCO– June 11, 2014 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announces the following transactions originated in the firm’s Northern California offices:

LEASES

Spansion Relocating HQ to Popular Ridder Park Technology Center in North San Jose
Spansion has signed a long-term lease with landlord Hines Development for ±154,600 square feet of space in two buildings at the Ridder Park Technology Center in North San Jose. Spansion, which recently sold its ±470,000 square foot headquarters facility in Sunnyvale, will be occupying ±124,592 square feet in the building at 1001 Ridder Park Dr and ±30,041 square feet in 1717 Fox Drive. Deal activity at the popular and centrally located Ridder Park Technology Center has been really strong in recent years, having landed other major tenants Ex’pression Center for New Media and County of Santa Clara. Hines sold the County building to Cole Capital earlier this year.  Steve Horton and Kelly Yoder with Cassidy Turley in collaboration with Jeff Houston and Sherman Chan with CBRE represented Hines in the lease transaction.

Loring Ward Moving HQ to Ten Almaden in Downtown San Jose, Marks CBD’s Largest Office Deal YTD
In what marks the largest office lease in downtown San Jose year-to-date, Equity Office Properties has signed a long-term lease with Loring Ward for ±42,610 square feet of Class A office space at Ten Almaden. Loring Ward, an investment manager based in Silicon Valley, will be relocating and expanding its offices from ±25,000 square feet at Santana Row in west San Jose. Loring Ward is among several companies that have recently been drawn to Ten Almaden, which has also landed major deals with tech firms such as Apigee, Malwarebytes, Move.com, Rosetta and more.  This latest lease brings the building to nearly 90% occupancy. Considered one of the best locations in downtown San Jose, award-winning Ten Almaden stands in a strategically prominent and highly visible location at the corner of Almaden Boulevard and West Santa Clara Street.  The listing team of Bob Simpson, Erik Hallgrimson and Todd Beatty with Cassidy Turley represented the landlord in the transaction. Beatty and Brittain Cheney also of Cassidy Turley represented the tenant.

Ten Almaden provides immediate access to Highway 87 and Interstates 280 and 680 and is convenient to Highways 101 and 85, making it readily accessible to and from any location in the Bay Area. It is also immediate to public transportation services and routes, including CalTrain and nearby the newly renovated Norman Y. Mineta San Jose International Airport.  It is walking distance to the many amenities hosted by downtown San Jose, including SAP Center, San Pedro Square, and shopping, dining, lodging, conference facilities, financial services and array of entertainment. At 17 stories tall, 10 Almaden also provides exceptional panoramic views of downtown San Jose and the surrounding Bay Area. Additional features include an attached six-level parking garage.

NTT Group Creates State-of-the-Art Executive Briefing Center on Top Floor at University Circle Building
NTT Group, the world’s largest telecommunications services provider, has created a state-of-the-art, ultra-modern executive briefing center at the University Circle campus in East Palo Alto. Taking occupancy earlier this year, NTT is leasing 28,207 square feet of Class A office space on the sixth (top) floor at the project’s 1950 University Avenue building. The company plans to use the space to showcase its leading-edge technology and services to clients from around the world. One of the key attractions for NTT was that the complex features an on-site Four Seasons Hotel, which will provide clients from anywhere around the globe convenient high-end hospitality nearby its new executive briefing center. Located at Highway 101 and University Avenue, University Circle is owned by Wells Real Estate Investment Trust.  Ken Candelaria with Cassidy Turley represented NTT in the transaction. Cassidy Turley’s Project and Development Services was also hired by NTT, which took advantage of the firm’s full service real estate solution capability.

NTT (Nippon Telegraph and Telephone Corporation) is the world’s largest global IT and telecommunications services company and is ranked 32nd on Fortune’s Global 500 list. The company generates over $130 billion in annual revenues and employs 225,000 professionals worldwide. For more information, visit http://www.ntt.co.jp/index_e.html

Ingram Micro Leases 31,759 SF at Renovated Green Building in Sunnyvale for Shipwire
Ingram Micro, a wholesale distributor of electronics and mobile phones, has leased a 31,759 square foot building at 435 Indio Way in Sunnyvale for the operation of its recently acquired company Shipwire, an eCommerce warehouse and order fulfillment company. Ingram Micro acquired Shipwire in late 2013 to accelerate its growth in eCommerce fulfillment. The single-story building is owned by WTA Indio, LLC, which recently completed market ready interior and exterior renovations to the property, including the latest in user-centered design and green building technologies. The property provides excellent access to Central Expressway, Highway 101 and Caltrain, and is walking distance to retail amenities. Steve Horton with Cassidy Turley in collaboration with Jeff Arrillaga of Cornish & Carey Newmark Knight Frank represented the landlord in the transaction.

Bayshore Tech Park Signs Data Services Firm Talend to ±25,000 SF Long-Term Deal
Bayshore Technology Park has landed data services firm Talend, Inc., which signed a long-term lease for 25,079 square feet at the prestigious project. Talend will be occupying the second floor of the building at 800 Bridge Parkway. Owned by Prudential Investors/Harvest Properties, Bayshore Technology Park is a 20-building Class A office/R&D campus located at the Highway 101 and 92 junction, providing easy access to San Francisco, the Peninsula, South Bay and the East Bay. A desirable project, there are also many on-site and nearby amenities as well as shuttle service to public transportation. Mike Moran, Ben Paul and Randy Arrillaga with Cassidy Turley represented the ownership in the transaction.

International Cosmetics Brand Eyes Lips Face Attracted to Charm of Oakland Office Building
Eyes Lips Face (e.l.f), an international cosmetics brand base in New York, has signed a lease for 9,933 square feet in Oakland for a new office. The company’s new “creative” space is located on the third floor at 570 10th Street, a recently rehabbed three-story building in Lake Merritt owned by RWW, LLC. e.l.f is scheduled to move into its new space this summer. Reportedly, the space will be able to accommodate 40 or more workers total. It took e.l.f. less than two months to find the space, while the property’s charm and accessibility to the 12th Street BART station were major attractions, according to Cynthia Lee, a broker with Cassidy Turley who represented e.l.f. in the transaction. Cassidy Turley was also selected to provide Project Management services. WCI Construction will soon be completing the Gensler-designed tenant build-out.

SALES

Investor Enters Las Vegas Market with Purchase of Luxurious Spectrum Apartments for $30.8M
A Northern California investor, Tilden Properties has entered the Las Vegas investment market with the acquisition of the luxurious 252-unit Spectrum Apartments complex for $30.8 million, or $122,222 per unit. The seller was a pension fund advisor. Built in 2010, the Class A complex was originally designed to condominium-quality specifications and has operated as an apartment property since its opening. The Spectrum is comprised of an excellent unit mix with (108) 1bd/1ba, (10) 2bd/1ba, (28) 2bd/2ba and (106) 2bd/2.5ba units. There is also 10,000 square feet of ground floor commercial space, partially used as a fitness center, business center and clubhouse. The property is located in a desirable southwest Las Vegas area, less than half mile from the 215 Beltway and 20 minutes from the region’s major employers and cultural amenities. Ric Russell with Cassidy Turley represented the seller in the transaction.

Hines Development Grabs 75,350 SF R&D Building in North Sunnyvale for $12 Million, Plans Rehab
Hines Development, along with a real estate fund managed by Oaktree Capital Management, L.P., has acquired a 75,350 square foot R&D building on ±4.3 acres in Sunnyvale, paying $12 million for the property, or $159 per square foot on the building. The seller was Pacific Landmark, LLC. The property is located at 825 Stewart Drive, positioned in north Sunnyvale off of Wolfe Road, providing excellent access to Highway 101 and Lawrence and Central expressways. The new ownership plans a complete redevelopment. After the work is completed, 825 Stewart will be a substantially modernized office building that will appeal to both creative and more traditional technology industry tenants. Ken Candelaria and Steve Horton with Cassidy Turley represented Hines in the acquisition. Drew Arvay also of Cassidy Turley represented the seller, Pacific Landmark.

KTR Capital Partners Adds 150,276 SF Industrial Building in Hayward to Recent Acquisition List; Plans to Upgrade, Re-Lease Facility
KTR Capital Partners has invested in a 150,276 square foot industrial facility on ±6 acres in Hayward, purchasing the property for an undisclosed price from BRAD Management. Located at 30526 San Antonio Street, the building is currently occupied by International Window, a window manufacturing and assembling company that will be expanding and relocating to the Central Valley early this summer. KTR Capital plans to complete an ESFR sprinkler upgrade as well as office enhancement to the facility. The building, considered ideal for manufacturing distribution services, is centrally located between Oakland and San Jose with easy access to Oakland International Airport/San Francisco Airport and the Port of Oakland.  Jay Hagglund, Tom Damaschino and Phil Haenel with Cassidy Turley represented seller BRAD Management in the transaction. KTR Capital also retained the same three Cassidy Turley professionals to market the entire building on a for-lease basis. With this acquisition, KTR Capital has now completed ±2 million square feet of acquisitions/development in the Bay Area since 2010.

Investor Acquires Brand New FedEx Distribution Building in Irving, TX
An investment LLC has acquired a newly constructed FedEx distribution building totaling 117,115 square feet in Irving, TX. The seller was DANAC/STILES L.P. FedEx is leasing the entire facility on a net leased basis. Doug Longyear, Chris Sheldon and Andy Bogardus with Cassidy Turley’s San Francisco office in collaboration with Blake Anderson in the firm’s Dallas office represented both parties 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):

Bob Simpson, (408) 615-3400Bob.Simpson@cassidyturley.com

Cynthia Lee, (510) 465-8000Cynthia.Lee@cassidyturley.com

Doug Longyear, (415) 781-8100Doug.Longyear@cassidyturley.com

Drew Arvay, (408) 615-3400Drew.Arvay@cassidyturley.com

Jay Hagglund, (408) 615-3400Jay.Hagglund@cassidyturley.com

Ken Candelaria, (650) 852-1200Ken.Candelaria@cassidyturley.com

Mike Moran (650) 347-3700Mike.Moran@cassidyturley.com

Ric Russell, (415) 781-8100Ric.Russell@cassidyturley.com

Steve Horton, (408) 615-3400Steve.Horton@cassidyturley.com

For market statistics or data, please contact:

Garrick Brown, Northern California Research Director, (916) 329-1558Garrick.Brown@cassidyturley.com

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. Cassidy Turley enhances its global service delivery outside 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 13 Northern California offices and a 400-member team, our Northern California market leadership is demonstrated by completion of over 3,950 transactions, totaling $6.0 billion in 2013.

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