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10/16/18
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Valent U.S.A. agreed to a 20-year lease for 96.5k sf of R&D space at Canyon Corporate Park in San Ramon. The deal represents the largest new R&D lease in the Tri-Valley since the second quarter of 2016.
For Valent, a leading crop protection firm serving the agricultural and non-crop products markets in North America, the move to the two-story free-standing building represents a consolidation of its Dublin and Walnut Creek operations. Canyon Corporate Park, at 4600 Norris Canyon Rd, offered a location between the existing operations while meeting the specific high-end R&D needs of Valent.
The ownership had purchased Canyon Corporate Park, a three-building property built in 1984, out of default in 2014. The new Valent lease now puts Canyon Corporate Park at 1005 leased.
The building has an 8’ interstitial space between the floors which is desirable for R&D uses. The property also benefits from a recently renovated outdoor common area and a strategic location with street frontage on Norris Canyon Road.
Dan Watson, Dave Bruzzone and Dan Dowd with NKF represented the landlord, a joint venture of Cannae Partners LLC and New York Life Investors, on behalf of an institutional investor. The lease value was not disclosed.
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