NIS signed an 84-month lease for 2710 Walsh Ave., a freestanding two-story building with 4/1000 parking located near Highway 101 and San Jose International Airport. The negotiated lease rate was not immediately available, but the asking rate for the space before negotiations was $1.25 per sf per month, NNN. The building is owned and managed by Rreef.
The company will relocate from 3231 Scott Blvd. The move, required due to expansion needs, is timed to the expiration of its leasehold there, according to local industry sources.
Rob Shannon and Joe Kelly with CB Richard Ellis represented Rreef in cooperation with Craig Fordyce and Dave Schmidt with Colliers International. Tom Sweeney and Lori Sweeney with Wayne Mascia Associates represented NIS.
In other Santa Clara leasing news, Vormetric Inc. recently inked a 48-month lease renewal for 23,048 sf of office/retail space 3131 Jay St. Total consideration was more than $2.63 million and works out to an average of $2.43 per sf per month. The lessor, Westcore Properties LLC, was represented by Colin Feichtmeir and Steve Horton of Commercial Property Services. Vormetric Inc. represented itself.
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