North San Jose office park lands trio of tech leases

SAN JOSE — A big San Jose tech campus has landed several large
leases, including one with prominent defense contractor
Raytheon.

District 237, located near State Route 237 between North First
Street and Zanker Road, has signed new leases with Raytheon, NXP
Semiconductors, and automotive software firm CDK Global.

“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,” said
Brent Carroll, a senior vice president with KBS Realty, the
principal owner of District 237.

Together, the three leases totaled 415,000 square feet and were
arranged by brokers Erik Hallgrimson, Kelly Yoder, Jeff Cushman and
Steve Horton of Cushman & Wakefield, a commercial real estate
firm.

Raytheon leased 143,000 square feet, NXP Semiconductors rented
96,000 square feet, and CDK Global agreed to lease 76,000 square
feet.

“District 237’s newly renovated look and sophisticated
amenities are truly in line with today’s tenant demands,” said
Hallgrimson, a vice chairman with Cushman & Wakefield.

The developers of District 237 believe San Jose is
well-positioned to keep attracting tech companies that are seeking
plenty of elbow room for expansions at decent office rental
levels.

“San Jose continues to benefit from Silicon Valley’s
thriving economy and remains a key market for some of today’s top
tech players,” said Rod Richerson, a regional president with
KBS.

Source: FS – All – Real Estate News 1
North San Jose office park lands trio of tech leases