The renewal was by Foundry Networks, which occupies 96,845 sf at 2100 & 2130 Gold St., which together total 123,500 sf. The supplier of high-performance enterprise and service provider switching, routing, security, and application traffic management solutions inked a 32-month lease extension.
The largest of the new leases was a 26,758-sf, five-year deal with Software AG, a developer and licenser of enterprise system software products. The company leased about half of a 52,000-sf building at 2150 Gold St. In the third deal, Minerva Networks, a professional service provider for IP television deployments, signed a five-year lease for the remainder of 2150 Gold St. TiVo Inc., the creator of television services for digital video recorders (DVRs), leases the remainder of the park.
The negotiated lease rates were not released. The triple-net asking lease rate at 2150 Gold St. was $1.60 per sf, according to Bixby's website.
Multiple brokers were involved in the deals. Randy Scott and Jim Beeger of Cornish & Carey represented Foundry in its renewal. Joe Elliott and Terry Bell of Colliers Parrish represented Software AG. Connor Flannery and Bart Lammerson of Staubach represented Minerva. Steve Horton of CPS represented Bixby in the new leases and Bixby represented itself for Foundry's renewal.
Bixby Land Co. was founded in 1896 with land that would later become the City of Long Beach and several surrounding cities. Bixby Technology Park was acquired by Bixby in October 2006 for $70 million as the company's initial foray into the Silicon Valley. Subsequent Silicon Valley acquisitions include Airport Technology Park, a 300,000-sf office park acquired for $85 million; 3111 & 3141 Coronado Dr., a 118,400-sf, two-building office/R&D campus acquired for $36.4 million; and Bixby University Station, a $72-million mixed-use project featuring 112,866 sf of R&D and retail space.
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