CHANDLER, AZ-Broadcom Corp. has signed a lease for 24,170 square feet in an office building at the master-planned Chandler Corporate Center. The semiconductor company, headquartered in Irvine, CA, is the first tenant to take space at the 67,140 square-foot, class A building.

Broadcom will relocate from its current location at 1131 W. Warner Rd. in Tempe, AZ to its new digs at 500 N. Juniper Dr. on Oct. 1. Allen Trowbridge with CresaPartners office in Woodland Hills, CA represented Broadcom in the deal, while  Phil Breidenbach, Paul Sieczkowski, Rob Martensen, Lindsey Carlson and Steve Larsen of Colliers International's Phoenix office represented RGDC.

Mark Singerman, regional director at RGDC’s Phoenix office, tells Globest.com that Broadcom’s typical M.O. is to settle in one location and expand from there. “They’re putting a significant amount of money into the space on top of what we’re investing in TIs,” he explains. “We have another 16 acres available there, and we’re hoping that, because Broadcom has been growing rapidly, there’s a build-to-suit in the future.”

Financial specifics about the transaction were not available. The quoted lease rate is $24.50 per square foot, full-service, gross.

Singerman acknowledges that, while the building has stood empty since its completion in June 2009,  there has been plenty of activity and interest. Economic uncertainty, however, kept many of those interested on the sidelines.

Things seem to be changing, however. The Broadband lease could be the start of other deals for the remaining space. Singerman says RGDC is in negotiations with a potential full-floor user that would take the entire first floor and part of the second floor. Another potential tenant is interested in the space if the first deal falls out, Singerman comments.

“This is a great problem to have that we have tenants after the same space,” he adds.