Fujitsu Agrees to Nearly 40,000 SF

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SAN DIEGO-A subsidiary of Fujitsu has agreed to take space at Sorrento Tech Business Park. The Frisco, TX-based Fujitsu Transaction Solutions Inc. has signed a 63-month lease for 37,886-sf of office and R&D space at the park. Fujitsu moved from Pacific Point Business Park. Both properties are owned by the Shidler Group.Fujitsu Transactions Solutions develops software to retailers, offering point-of-sale transaction hardware and software, automated teller machines, and IT infrastructure management services. Clients include Best Buy, Nordstrom, Regal Cinemas, Staples and Payless ShoeSource. Earlier this year the company approached Shidler about downsizing its San Diego operations.”[Fujitsu] was able to accomplish their space reduction needs and sign a long-term lease and we were fortunate to retain a high-quality tenant within the R&D complex,” says Brigham Black, vice president of the Shidler Group. Chad Urie, John Hale and Tim Olson of Colliers International represented the Shidler Group, while Scot Ginsberg of the Staubach Co. represented Fujitsu.The Shidler Group acquired the property in August of last year, when it purchased a 15-building portfolio involving three business parks that were built in Sorrento Mesa from 1984 through 1989. The mostly R&D space was a $61.9-million buy and included 438,142 sf.The Sorrento Tech buildings range in size from 25,477 sf to 37,866 sf. Two of the facilities are occupied by Information Systems and Lightpointe Communications, while the third building was vacant until Fujitsu agreed to fill it.The Shidler Group purchased the portfolio from Mullrock Umbrella LLC, which is a partnership between the Muller Co. and Rockwood Capital. In April, Shidler sold one of the buildings for $6.1 million.The property it sold counts 30,097 sf and serves as the corporate headquarters for Information Systems Laboratories, which provides information to the defense and intelligence sectors. The company ranked No. 383 on the 2004 Deloitte Technology Fast 500, a ranking of the 500 fastest growing high technology companies in North America.