Subsidiary of Samsung Electronics will occupy the R&D Center which will be built to LEED Gold standards at Cypress Business Park in Mountain View, Calif.
Mountain View, Calif. (Sept. 19, 2012) – In a joint venture, TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, and Farallon Capital Management, LLC, a global investment firm that manages capital on behalf of institutions and individuals, announced today a 15-year build-to-suit lease with Samsung Information Systems America Inc. (SISA), a Samsung Electronics subsidiary, for a new campus at Cypress Business Park, 625-685 Clyde Avenue in Mountain View, California.
SISA’s R&D Center will relocate from its current facility in North San Jose to the 8.5-acre site and expand to two new six-story class-A office buildings totaling approximately 385,000 sq. ft. (each 192,500 sq. ft.) with two 5-6 story parking structures. The new facility will be oriented around a central plaza with views overlooking the adjacent Sunnyvale golf course and will be constructed to LEED Gold standards. Entitlements are in process and anticipated for completion in Q2/2013, with a targeted occupancy in Q4/2014.
“Our lease with SISA is further proof of the continuing confidence in the Silicon Valley market,” said Michael Covarrubias, chairman and CEO of TMG Partners. “The synergies that have historically been so valuable in this region remain and are still a strong argument for companies to expand their business presence here.”
“It is a testament to the increasing economic diversity of Mountain View to welcome such a prestigious global company as Samsung, “said City of Mountain View Mayor, Michael Kasperzak. “We appreciate the confidence of a world-wide company identifying our city as a benefit to their growth and we look forward to having them be an active member of the corporate community.”
The site of SISA’s new R&D Center is immediately adjacent to, and highly visible from, Highway 101, and walking distance to either the Bayshore/NASA or the Middlefield VTA light rail stop, which provide a direct connection to downtown Mountain View and the local CalTrain station.
Studios Architecture of San Francisco is the project architect and Devcon Construction is the general contractor. Matt Von der Ahe and Hyoung Chon-Yeun, both of CBRE, represented the tenant.
About TMG Partners
TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 20 million square feet of property throughout the San Francisco Bay Area, including Emeryville, Marin City, Novato, Palo Alto, San Bruno, San Jose and San Francisco. One of the most active developers in this area in the last decade, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit: www.tmgpartners.com
About Farallon Capital Management L.L.C.
Farallon Capital Management, L.L.C., founded in March 1986, manages equity capital for institutions, including college endowments and charitable foundations, and for high net worth individuals. Farallon employs approximately 160 people in seven offices globally, including its headquarters in San Francisco. For more information, visit: www.faralloncapital.com
About Samsung Information Systems America Inc.
Founded in October 1988, Samsung Information Systems America is headquartered in San Jose, CA. with offices across the U.S. SISA is engaged in researching emerging technology to create new businesses, and developing core technology to enhance the competitiveness of Samsung’s products. The primary research areas of SISA include: advanced software, interactive services, user experience, and emerging technologies in convergence.