|
|
3/27/20
|
KBS has repositioned and rebranded District 237, formerly Corporate Technology Centre, a five-building, 415k sf office campus in San Jose. The repositioning resulted in a combined total of 314.7k sf in new leases with three global companies at the property, all of which were completed in less than six months post renovation. The property, owned by KBS Real Estate Investment Trust II, is located at 350, 300, 250, 200 Holger Way and 100 Headquarters Dr.
The new leases include a new long-term lease for 142.7k sf with Raytheon, a global technology and innovation leader specializing in defense, civil government and cybersecurity solutions; 96k sf to NXP Semiconductors, a global semiconductor manufacturer; and 76k sf to CDK Global, an automotive software company.
“Our ability to lease four out of the five buildings within the campus in such a short period of time is a true testament to how the project was repositioned to appeal to those firms actively looking to upgrade their facilities and enhance their ability to attract talent in this competitive environment,” says Brent Carroll, senior vice president and asset manager of District 237. “We are also in talks with several companies to lease the final fifth building at 100k sf, which we anticipate will be leased quickly as well.”
Driven mostly by the tech sector, job growth in the San Jose metropolitan area increased by 32,400 jobs in 2019, according to a Q4 2019 report from Cushman & Wakefield. This brings regional employment to 1.2 million.
The team representing KBS in the leases included Erik Hallgrimson, Kelly Yoder, Jeff Cushman and Steve Horton of Cushman & Wakefield.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
