The move will nearly double the space that was available at its old Cupertino site and allows for expansion from its current level of 150 employees to approximately 220 within five years. According to IKOS CFO, Joe Rockom, the move makes sense for several reasons.
"We were facing the imminent expiration of our old lease in cramped quarters and a proposal for a four-fold increase in our rent," Rockom tells GlobeSt. "By moving now we have significantly lowered our costs and have shifted to a brand new facility to accommodate our plans for growth. We clearly have made the right move."
IKOS has a new 10-year lease and will occupy 76,000 square feet of the new building, the balance of which is being subleased for 5 years to ARC Core, a UK-based provider of IP for circuitry design.
Colliers International represented IKOS. IKOS was established in 1984 and has sales operations in North America, Europe, the Middle East, and across Asia.
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