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1/22/10
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Bridgelux closed out 2009 by signing a seven-year lease for 120k sf of Livermore industrial space in a relocation form Sunnyvale. The building is located at 101 Portola Ave, east of Collier Canyon Rd and north of I-580. This lease is not only one of the largest of the 4th quarter, but is also a big boost for Livermore, which is looking to attract growing companies to the city.
Bridgelux will set-up its manufacturing operations and headquarters at its new Livermore space. The company is the first new, US-based light-emitting diode (LED) manufacturer in the past 20 years. The firm's focus is bringing innovation to light by providing high power, energy-efficient and cost-effective LED solutions.
Tom Taylor, Chris Shepherd and Todd Husak of CB Richard Ellis represented Bridgelux in the transaction. The landlord, LAM Research, was repped by Chris Shaffer, Kurt Heinrich and Jim Peterson of Cornish and Carey Commercial.
Shepherd pointed out, "The move to keep the first phase of Bridgelux's large scale manufacturing operation in the Bay Area signifies a shift from the trend of off-shoring manufacturing operations that many US companies have employed in the past. This move will add jobs to the local economy and is a great sign for the commercial real estate market."
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