SAN JOSE, CA-As GlobeSt.com reported, Equity Office has signed a long-term lease with InvenSense Inc. for 130,000 square feet at its 1745 Technology Dr. property here in San Jose. Tenant brokers include Jim McPhee and John Fennell of Cushman & Wakefield while landlord brokers include Rob Shannon, Christian Marent and Bob Steinbock of CBRE.
Although C&W didn't return GlobeSt.com queries for comment, CBRE's Shannon tells GlobeSt.com that after initial conversations with the Invensense team, “it was apparent that they were a very good fit for the building and about to experience explosive growth.”
He adds that “Coupled with the strong activity for 80,000-square-foot to 100,000-square-foot requirements in the market, it made the decision to divide the building for two tenants easy.”
He explains that “With the top three floors now available, coupled with building top signage opportunity facing Mineta International Airport, we are already seeing strong tenant interest.”
Todd Hedrick, SVP of leasing with Equity Office, points out that “”
We are very pleased to have InvenSense as our newest client in our San Jose Airport portfolio. 1745 Technology Dr. represented an opportunity for InvenSense to get a 'best in class' building with significant image at a discount to the new development pricing in Santa Clara and Sunnyvale.”
He adds that “We are confident that companies will continue to see opportunity in the San Jose market as pricing tightens to the north.”
InvenSense's lease will begin on August 1, 2013 and include floors one through five of the 228,000-square-foot class A building. InvenSense was founded in 2003 and is currently headquartered in Sunnyvale, CA, with offices in Taiwan, Japan, Korea, China and Dubai. The 1745 Technology building will serve as the company's new corporate headquarters.
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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.
