lease a new 130,000 office space area if it's future wasn't bright?
Really? Lol, see you in the $20s.
"InvenSense, Inc. (NYSE: INVN), the leading provider of MotionTracking™ devices for consumer electronics like smartphones and tablets, has signed a lease deal for 130,000 square feet at 1745 Technology Dr. in San Jose, CA.
The eight-story, 228,310-square-foot office building was developed by Spieker Properties, Inc. in 2000 on 15.2 acres in the San Jose Airport submarket of Santa Clara County, part of the Concourse at Technology Tower. The property offers 24-hour security, conferencing and fitness facilities, food court, on-site management and balconies with water views.
InvenSense will take occupancy of the first through fifth floors when it relocates its corporate headquarters in August 2013 from Sunnyvale, CA. The international firm has offices in Taiwan, Japan, Korea, China and Dubai.
"We are very pleased to have InvenSense as our newest client in our San Jose Airport portfolio," said Todd Hedrick, senior vice president of leasing with Equity Office, which owns the property as part of a 70 million-square-foot national portfolio of class A office space, including 19 million square feet in the Pacific Northwest. "1745 Technology Drive 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. We are confident that companies will continue to see opportunity in the San Jose market as pricing tightens to the north." "
Jim McPhee and John Fennell with Cushman & Wakefield represented the tenant. Rob Shannon, Christian Marent and Bob Steinbock with CBRE represented the landlord.