Search
 

NEC Renews One Lease, Terminates Another

SANTA CLARA, CA-NEC Electronics America signs a long-term lease for its 200,000-sf headquarters building as it plans to vacate 155,000 sf in two other local buildings.

By Brian K. Miller | Updated on April 30, 2007

SANTA CLARA, CA-Computer chip maker NEC Electronics America has renewed its lease for a 200,000-sf building on Scott Boulevard that sits next to a 75,000-sf building it is vacating. Both buildings are owned by publicly held R&D REIT Mission West Properties, which stated last month in an SEC filing that NEC was negotiating to terminate its lease in the smaller building.

In addition to those two buildings, NEC also leases from Mission West an 80,000-sf building at 2100 Walsh Ave. Earlier today, NEC confirmed that it also is planning to vacate that building as well but did not specify whether the lease was nearing expiration, a lease termination was under negotiation or it would go onto the sublease market.

Cornish & Carey, the brokerage firm that negotiated the renewal lease, says NEC Electronics signed a 10-year lease for all of 2880 Scott Blvd., which has been the company’s US sales and design headquarters for the past 10 years. C&C broker Kevin Manning, handled the transaction for NEC.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.