The North Fair Oaks property was the right location with the right footprint, allowing our client to reduce the amount of space occupied while designing a fresh, open and efficient environment.
San Jose, Calif. (PRWEB) November 30, 2015
Chelsio Communications has relocated its corporate headquarters to a single-story, Class-A flex building located at 209 North Fair Oaks in Sunnyvale, CA. The 18,805-square-foot facility includes office and R&D space, supported by a robust power infrastructure.
“This relocation provided us with an opportunity to construct a space that accelerates product development and facilitates client service, while enhancing the overall workplace environment for our employees,” said William Delaney of Chelsio. “Equally important, we are only one mile from downtown Sunnyvale and less than two miles from our former headquarters, so the move didn’t significantly disrupt our current employment base.”
Chelsio’s previous location was at 370 San Aleso Avenue, where the company was one of two tenants in the approximately 52,000-square-foot-building.
“Chelsio’s lease was coming due and the landlord wanted to convert the space to a single-tenant building to capitalize on Sunnyvale’s explosive growth,” said Nate Currie, managing director of global tenant advisory firm Savills Studley. Currie and colleague Scott Kinder advised Chelsio in the transaction and have worked with the company since 2009. “We cast a wide net throughout Silicon Valley, exploring alternatives from San Jose to Mountain View. The North Fair Oaks property was the right location with the right footprint, allowing our client to reduce the amount of space occupied while designing a fresh, open and efficient environment,” said Kinder, who is a corporate managing director with the firm.
Approximately 55 employees are housed in the space with room to expand. The company also maintains facilities in India and Japan.
Being near downtown Sunnyvale provides access to amenities and restaurants, as well as close proximity to the Caltrain Station and Central Expressway.
Sunnyvale is an extremely desirable and competitive Silicon Valley submarket, with an overall availability rate of 3.7 percent and asking rents averaging $3.49 per square foot per month.
The landlord, Grey Area 555 LLC, was represented in the transaction by Cushman & Wakefield.