Sam Burnett of Colliers International represented the sublease tenant, IOA Corporation, in the transaction. The sublessor, PLX Technology, and landlord, Richard Peery, were represented by Josh Dempsey and Ron Himes of BT Commercial.
Burnett tells GlobeSt.com that IOA took 14,740 sf of PLX Technology's excess space. The 350 Potrero Street location is one of PLX's many properties, and the company didn't need the space anymore. Burnett would not reveal the price of the re-negotiated lease and says that comparing it to rates in the area would be misleading.
Burnett adds that IOA Corp. is a new company starting up, and currently shares office space in Mountain View with another company. This will be its first solo office space.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
