ALLEN, TX-After a lengthy search, Micron Technology Inc. has decided to relocate its regional design and engineering headquarters into Allen Office Center. The Boise, ID-based company, which manufactures semiconductor solutions and memory technologies, has inked a long-term lease for 31,775 square feet at 805 S. Central Expy.
Micron is moving out of roughly 45,000 square feet at 1025 Central Expy., also in Allen. The company, which has experienced difficult financial conditions similar to the rest of the computer industry since 2008, decided to reduce its space usage and find more efficient space, according to Daniel Rudd, a senior vice president with Grubb & Ellis Co.’s Dallas office.
Rudd and Billy Vahrenkamp, an associate vice president in the same office, represented Micron in lease negotiations. The landlord, AFP Development Associates Ltd., a subsidiary of Wereldhave USA Inc., was represented by Burson Holman of CB Richard Ellis’s Dallas office.
Rudd tells GlobeSt. the new lease will reduce Micron’s local real estate expenses by roughly 20%. It will move into its new space in October.
Rudd and Vahrenkamp began working with Micron during the third quarter 2008. The team evaluated roughly six different buildings on the north side of the Metroplex before honing in on Allen Office Center, a 115,200-square-foot, class B building.
“This building was a good fit because it allowed Micron to use space more efficiently and fit the same number of employees into a smaller space,” Rudd says. Built in 1998 and formerly occupied by Sage Technologies, the two-story Allen Office Center offers Micron good visibility and access to Central Expressway, he adds.
Additionally, Rudd and Vahrenkamp were able to negotiate building signage as part of Micron’s new lease. And an additional perk is that the space it leased was already improved with existing infrastructure.
Micron will occupy most of the first floor of Allen Office Center, which is otherwise vacant. It leases for $10 per square foot, triple net.
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