Pair of Lease Deals Fills Up Business Park

HAYWARD, CA-Two lease deals totaling 102,000 sf have filled up Mt Eden Business Park, a new six-building, 400,000-sf park here that was developed by Simeon Commercial Properties. The larger of the two deals was a sublease of two Class A Office/R&D buildings at 25881 and 25901 Industrial Blvd. Thermage Inc. subleased 88,381 sf from a Sybase company for just under $12 per sf per year. Thermage is a maker of medical devices for aesthetic and therapeutic applications. The company is relocating and expanding from elsewhere in Hayward. Sybase is a large, independent software vendor.The remaining 13,600 sf was leased by Mipox International Corp. directly from the landlord, Kennedy Associates. Mipox is the manufacturer of ultra fine polishing abrasives. The building address is 25821 Industrial Blvd. The lease term is six years. The value of the lease is just under $1 million. The brokers for the business park are Dan Bergen and Jim Morris with Colliers International. “It is encouraging to see that most of the demand for R&D space is coming from local companies choosing to remain in the area,” says Morris, a senior vice president with Colliers in Oakland.