MILPITAS,CA—Westcore Properties has secured a 10-year early lease extension with Flextronics International USA Inc. for a roughly 500,000-square-foot, nine-building complex in Milpitas.
The lease extension for the properties located at 637, 677 and 727 Gibraltar Ct., and 777, 847, 927, 1007, 1077 and 1177 Gibraltar Dr., ensures Flextronics International USA Inc. remains an important economic engine in the Silicon Valley community. Westcore Properties acquired the property in 2007.
“We believe this extension with Flextronics International speaks to the growth and sustainability of manufacturing, and research and development in the region,” said Don Ankeny, president & CEO at Westcore. “More and more we see companies seeking to locate their manufacturing operations close to their corporate offices versus moving these important jobs overseas or out of state, and Westcore Properties is proud to play a role in keeping these businesses in California.”
Dan Hollingsworth, Steve Pace, Tom McGovern and Karen Sigl of Cassidy Turley represented Flextronics International USA Inc. in the transaction. Westcore Properties was represented by vice president of acquisitions and asset management Victoria Grether.
?Westcore Properties, San Diego, is a private, entrepreneurial commercial real estate investment firm with a specialized focus in the western United States and key European markets.