Memec will occupy an entire 115,000-sf, five-story facility that stands at 3721 Valley Centre Drive. The building was previously committed to software company Peregrine Systems Inc., which surrendered it to Kilroy in June 2002 after being hit with major financial difficulties. Peregrine has since been delisted from the Nasdaq National Market and filed a voluntary Chapter 11 petition.
Memec, which was represented by Brian Driscoll and Eric Northbrook of Colliers International in the recent transaction, plans to consolidate 300 employees from the United Kingdom and two locations in San Diego into the newly leased building, with occupancy slated for March 2003. Anne Sneed of Howard Sneed Architecture & Design will design the headquarters facility. According to David Ashworth, Memec's president and CEO, the Del Mar facility is "an ideal location" for the company to consolidate its staff and attract the top-level talent that it needs to fuel sales growth. The distributor will be joining current tenants Morrison & Foerster and Clifford Chance at the Del Mar site, as Memec's new facility is part of a five-building, 20-acre campus totaling 550,000 sf.
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