SUNNYVALE, CA-Sushma Malhotra of CresaPartners in San Jose recently represented Adesto Technologies in a 20,000-square-foot office lease at 1250 Borregas Ave. in Sunnyvale, CA. Adesto, the leading developer of Conductive Bridging RAM technology, is expanding from its previous location at 1221 Innsbruck Dr. in Sunnyvale.
According to Narbeh Derhacoabian, CEO of Adesto, the company is relocating to the single-story class-A office building, which offers custom interiors and a laboratory, in order to optimize space efficiency and support its R&D needs. The company plans to be fully moved in September 2011.
The landlord, Dollinger Properties, represented itself in the transaction. CresaPartners tells GlobeSt.com that the company previously occupied 9,750 square feet but could not provide lease terms or further details to GlobeSt.com at this time.
According to CresaPartners San Jose Q2 market report, lease rates continue to rise as demand remained strong in Q2 2011. “High quality space is most desired, and rates are being pumped up with each large block of space being leased,” says the report. “Hiring in the technology sector is steadily increasing, which continues to drive the market upward. Unemployment levels have dropped to 9.9%, down from 10.5% last quarter.”
From the tenant’s perspective, according to the CresaPartners report, with each month of 2011, the market continues to strengthen, “which means that terms, conditions and concessions are swinging in favor of the landlord in this market cycle,” the report says. “Accordingly, now is the time to extend an existing lease or acquire space, as tenants should consider locking in present lease rates for the long term prior to a sustained run-up.” According to CresaPartners, “tenants should engage assistance early, survey the market and develop schedules and project budgets now, and be flexible with demographics, as it will be more difficult to locate affordable space in the most desirable areas of the Valley.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
