Macrovision Corp. Extends, Expands HQ Lease

SANTA CLARA, CA-Macrovision Corp. has extended and expanded its headquarters lease commitment at Airport Technology Park. The publicly traded digital rights management company extended its existing 86,000-sf commitment by five years and inked a new 12-year lease for 74,000 sf, making the two leases co-terminus.The existing leasehold is at 2830 De La Cruz Blvd. The new lease is at 2860 De La Cruz Blvd. Both are R&D-office buildings. The 2860 De La Cruz building has been vacant for about two years. The approximately $14.2-million lease deal included an undisclosed tenant improvement allowance and an undisclosed amount of free rent.Newmark Pacific Inc. managing principal David Polatnick represented Macrovision with fellow Newmark brokers Ed Grammens and Jay Seiden. Craig Fordyce and Mike Rosendin of Colliers Parish represented park owner Westbrook Partners. Fordyce tells GlobeSt.com the lease takes the 320,000-sf park to 100% occupancy.Polatnick tells GlobeSt.com that Newmark developed several viable scenarios to accommodate the client’s need to expand locally, including moving the headquarters to a new location and subletting its Airport Technology Park space. “In the final analysis, the opportunity provided by the existing landlord to expand the lease to accommodate Macrovision’s future growth plans made the most sense,” he says. “We were able to provide the client with this opportunity despite significant interest in the space from several competing tenants.” Macrovision develops and markets content protection, digital rights management and electronic license management solutions for the video, music and software industries. Newmark is a New York-based real estate services firm that embarked on a national expansion in 2002, opening regional offices around the country with local expertise. Colliers Parish is an affiliate of Colliers International, a global real estate services firm with 247 offices in 50 countries.