REDWOOD CITY, CA – March 13, 2012 – Sares Regis Group of Northern California (SRGNC) recently completed an assisgnment for Informatica Corporation to help identify and acquire a new headquarters. The project culminated with the world’s number one independent provider of data integration software purchasing 290,000 square feet of office space at Pacific Shores in Redwood City for its new headquarters. The two buildings, located at 2000 and 2100 Seaport Boulevard, are both four stories and contain 141,000 and 149,000 square feet respectively. The purchase price was $148.5 million.
“Pacific Shores is the ideal location for Informatica to grow its headquarters in keeping with the already strong and vibrant culture of the company,” said Dick Madden, vice president, Real Estate and Facilities, Informatica. “Additionally, owning our headquarter buildings will allow Informatica to accommodate our future growth and reduce long-term occupancy costs.” The company plans to relocate to the new offices in late 2013 when its current lease expires.
Starwood Capital Group sold the buildings to Informatica. Douglas Sugimoto, Joe Hamilton and Ben Stern of Cornish & Carey Newmark Knight Frank were the brokers representing Informatica. Charles Seaman and Krista Kim of Reed Smith were Informatica’s legal counsel while Robert Gordon and Dave Shong of Mayer Brown advised Starwood.
SRGNC was hired by Informatica in early 2011 to assist the company in exploring multiple options to develop a plan for its new headquarters offices. Eight locations met the firm’s requirements: many of those were ground-up development sites in the mid-peninsula market. Eight months ago Informatica and SRGNC brought on the brokerage team to evaluate several finalists.
“It is rewarding to have the trust of Informatica’s leadership to tap our real estate expertise in helping to evaluate options and locate the permanent home for their headquarters staff,” said Jeff Birdwell, president of Commercial Development at SRGNC. “The leadership of the company undertook an aggressive, early effort to evaluate a wide range of headquarters options, including build-to-suit opportunities.
About Sares Regis Group of Northern California
Sares Regis Group of Northern California and its affiliates, Regis Homes Bay Area and Regis Contractors Bay Area, are regional companies based in San Mateo, California, and are affiliated with Irvine-based Sares Regis Group. As leading developers and managers of commercial and residential real estate in the western United States, the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development.
Sares Regis Group has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 14,000 rental apartments and 15 million square feet of commercial and industrial space. Since its inception, the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.
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