SAN JOSE, CA-An independent semiconductor process-development foundry is venturing into the solar industry. SVTC Technologies has leased 85,000 sf here that will be used to provide solar panel manufacturers the same service it offers the semiconductor industry.

SVTC signed a five-year lease for a two-story 114,000-sf building at 5215 Hellyer Ave. that is part of a two-building 353,000-sf complex owned by Golden Gate Real Estate. Run by Jamin Seid, GGRE is a four-year-old affiliate of the EmriGroup that co-invests with institutions as the local development partner.

Seid tells GlobeSt.com that the asking rate for space in his complex, Hellyer Oaks Technology Park, ranges from $1.35 to $1.50 per sf, and that the negotiated rates are not falling below that range. In the case of SVTC, the company took space that had already been well built out by the previous tenant, New Focus, which vacated the space a few years ago but continued to pay rent until late last summer. SVTC will be reusing a lot of the labs that New Focus had built out and will use a $10 per-sf tenant improvement allowance to move some walls and replace some carpet tiles, he says.

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