Boston Scientific Relocates, Expands Within EOP Portfolio

SANTA CLARA, CA-Medical device manufacturer Boston Scientific Corp. is relocating and expanding its local operation to Shoreline Technology Park in Mountain View, CA, though its lessor will remain Equity Office Properties.

The Natick, MA-based company’s embolic protection division is vacating 40,000 sf in two buildings on Walsh Avenue in Santa Clara in favor of a single, 65,800-sf flex building on Stierlin Court in Mountain View. And in a sign of the times, the company’s director of operations Brian Armijo tell GlobeSt.com they are doing so for essentially the same rate they are currently paying for the smaller space.

Jim Maggi of the Santa Clara-based brokerage firm Wayne Mascia Associates, Boston Scientific’s representative in the lease negotiations, declined to provide the negotiated lease rate on the 84-month transaction, but did say Equity provided “a better lease rate” than they were currently paying and also provided an above-standard tenant improvement package. Other local brokers familiar with the transaction say the asking rate for the space was $1.25 per sf per month but the negotiated rate was much closer to $1.00.