SUNNYVALE, CA-SK Telecom Americas Inc., a leading telecommunications company based in South Korea, has relocated and expanded in the San Francisco area. The company plans to move this month from its current location, 150 Mathilda Place in Sunnyvale, CA.
The firm took 34,697 square feet at 310 DeGuigne Dr. in Sunnyvale, CA. According to Fletcher Baker of Cresa San Jose, which represented the firm in the move, the newly renovated property is “well-suited for the innovative and high-quality office modifications that SK Telecom's expanding operations require.”
At its previous property, it occupied 14,500 square feet. The firm says that the doubled space is to “accommodate its growth” for office and innovation center needs.
Arques Business Park, which includes two single-story buildings at 929 E. Arques Ave. and 310 DeGuigne Dr., where SK Telecom is taking space, recently sold from Menlo Equities to Claion Partners on behalf of a comingled fund.
CBRE's Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk, Brad Zampa, Joe Kelly and Mike Benevento represented the seller in the transaction.
Built in 1990, the office/R&D buildings are among the newest in the market. All are located in a campus-like setting which includes landscaping and a private patio between the two buildings.
“Investors were attracted to this property because it offered the opportunity to acquire two high quality well located buildings that were 100% leased to high quality tenants,” says Moriarty. “Sunnyvale is one of the strongest submarkets in Silicon Valley with single digit vacancy rates and rising lease rates. The continued strong demand coupled with the tightening supply of R&D product will support strong performance and future rent growth.”
The Silicon Valley R&D market has had three years of strong tenant demand, with technology tenants attracted to Sunnyvale due to its central location, its proximity to multiple highways, and its proximity to housing, Moriarty adds.
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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.
