Pixelworks is currently located in an EOP building in Campbell, called the Pruneyard Tower I. It is relocating and expanding to accommodate Equator Technologies, a Campbell-based company it acquired in June. Equator is currently located at 1300 White Oaks Rd.
The lease commences in March. The value of the lease is approximately $6.2 million, which translates to an average effective rate of about $1.97 per sf per month. The deal includes tenant improvements, some free rent and signage fronting the main road to Mineta San Jose International Airport.
Pixelworks was represented in the transaction by Mark Childs of Integrated Corporate Property Services in Portland, OR, and Brittain Cheney of Commercial Property Services in San Jose. EOP represented itself.
In other leasing news at Concourse, Comerica Bank, a national business bank, renewed its 12,709-sf lease at Concourse I, which is the same size as Concourse II.
The company was one of the first tenants to move into the building in 1980 and has a retail banking location on the ground floor. Comerica's Technology & Life Sciences division occupies the office space portion of the lease. Comerica Bank was represented by Sean Toomey of Trammell Crow.
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