Colliers International Announces Completion of Seven Silicon Valley Deals Exceeding 1.2 Million Square Feet
SAN JOSE, Calif., April 29 /PRNewswire/ -- Colliers International announced today that it has finalized seven commercial real estate transactions in Silicon Valley in the last sixty days in excess of 1.2 million square feet. "Putting together deals like these in a tough market really demonstrates the caliber of our professionals," said Jeff Fredericks, Senior Managing Partner of Colliers International. "Each of these transactions was 100,000 square feet or more and completing any one of these deals would be a noteworthy accomplishment. Having Colliers agents participate in all seven is extraordinary."
Corporate users involved in the transactions were FedEx Ground Package System, Citrix Systems, Data Domain, Supermicro Computer, XenoPort, ASUS Computer International and Philips Electronics North America. Notably, Sobrato Development Companies was the landlord in all of the transactions except for the FedEx Ground and Super Micro Computer deals. Topping the list at 320,875 square feet is the planned FedEx Ground expansion at 8333 Central Avenue in Newark, the former corporate headquarters for Ross Stores. The shipping company leased the entire building plus 6.16 acres of vacant adjacent land. The 10-year lease "is believed to be the largest industrial lease transaction completed so far this year in the Bay Area," said Greig Lagomarsino, the Colliers International agent representing the landlord, LBA Realty.
Lagomarsino and partner Todd Severson were also a part of the Supermicro Computer deal, a 246,450-square-foot expansion at Bayside Business Park, 48350 Fremont Boulevard in Fremont. Lagomarsino and Severson were a part of the Pinole Point Properties landlord representation team while Colliers San Jose brokers Mike Rosendin and Dion Campisi represented Supermicro Computer, a designer of high-end motherboards and servers. Colliers International agents Terry Bell and Joe Elliott represented ASUS Computer International on a long-term 152,675-square-foot industrial lease at 800 Corporate Way in Fremont. The facility will serve as the ASUS Computer, Inc. US Headquarters. ASUS is a leading provider of 3C (computers, communications and consumer electronics) total solutions. In 2006, ASUS shipped 55 million motherboards, which means that one in three desktop PCs sold that year was powered by an ASUS motherboard. Citrix Systems is expanding their presence in Silicon Valley with a new, 140,935-square-foot lease at 4980 Great America Parkway, negotiated by Colliers International agent Jim Abarta. Citrix previously subleased 141,000 square feet from Terayon Communication and Sobrato Development at 4988 Great America Parkway, also through Jim Abarta. The new lease gives Citrix long term control over the combined 281,935-square-foot site with Sobrato. Colliers' Jim Abarta also represented Data Domain on a 100,272-square-foot expansion with Sobrato Development Companies at 2441 Mission College Boulevard in Santa Clara. In July of 2007, Data Domain leased an initial 100,113 square feet of space from Sobrato at 2421 Mission College Blvd, for its new headquarters. The additional 100,272 square feet next door is not expected to be occupied until January of 2009. "Data Domain was focused on keeping its operations together in Santa Clara because of their state of the art data center/lab expansion," according to Abarta. Colliers International represented XenoPort, Inc., on a new 58,744-square-foot lease at 3400 Central Expressway in Santa Clara as well as a 102,759-square-foot-lease renewal at 3410 Central Expressway. Sobrato Development Companies is the landlord on both transactions and Colliers agent Craig Fordyce worked with XenoPort. Finally, John McMahon, Steve Prehm and Greg Galasso of Colliers International co-represented Philips Electronics North American Corporation, on a 107,500-square-foot lease at 3860 North First Street in San Jose. Sobrato Development Companies was the landlord in that transaction as well. Colliers is one of the largest commercial real estate firms in the world with more than 267 offices in 57 countries in the Americas, Europe, the Middle East and Africa, and greater Asia. Colliers International manages more than 404 million square feet of commercial property and has revenue of $1.6 billion. Each Colliers office is privately owned. Colliers International Partnership, headquartered in San Jose, has 11 offices in California and Nevada. Contact: Jeff Fredericks, Colliers International First Call Analyst:
CONTACT: Jeff Fredericks of Colliers International, +1-408-282-3801,
2008-04-29 19:56:35 0348480 PRNEWSWIRE
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