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Brocade Communications Inks $223M HQ Office Deal

SAN JOSE, CA-The publicly-traded provider of datacenter networking solutions acquires land here for a three-building, 562,000-sf headquarters office development.

By Brian K. Miller | Updated on May 28, 2008

SAN JOSE, CA-Brocade Communications is spending approximately $223 million on a new headquarters office complex on North First Street. The locally based public company currently keeps its headquarters at 1745 Technology Dr. on a lease that runs out in the middle of 2010.

In an SEC filing this week the provider of datacenter networking solutions says it purchased three unimproved building parcels from MFP/Hunter@First Office Partners LLC for $50.9 million. It retained an affiliate of the seller to develop three office buildings totaling 562,000 sf for an additional $173 million that will be paid in installments over the next 27 months.

The new campus will consist of two seven-story buildings and one four-story building and will have a capacity of approximately 2,200 people, allowing the company to consolidate not only its headquarters at 1745 Technology Dr. but also a building it owns several blocks away at Skyport Plaza. Brocade’s two existing local buildings total about 400,000 sf, a company source tells GlobeSt.com.

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