According to GVA Kidder Mathews broker Dave Vanoncini, the Accuray lease was structured to allow the company to remain in its current space while a new building is being built-out to specifications, minimizing disruption. "The landlord offered flexible and creative options to retain our client as a tenant," says Vanoncini, who represented Accuray along with fellow GVA Kidder Mathews broker Jim Maggi. Terms of the two leases were not disclosed.
Improvements will include a covered walkway, including a second-floor pedestrian bridge connecting the two buildings. "The bridge was the key feature," says Maggi. He says the bridge allows Accuray, which has developed a robotic radiosurgery system that facilitates the treatment of tumors throughout the body, to consider staying in the project. "It made these buildings similar in utility to the single-building options which were under consideration," Maggi says.
In the Panasonic lease, a division of the company called anasonic R&D Company of America signed a seven-year deal for its space, according to Nancy Morse, a senior vice president with Grubb & Ellis. The lease is a relocation for the Panasonic unit, which is expected to occupy the new space in May.
The company is relocating primarily because the space presented the opportunity to consolidate a number of service lines into one building, Morse says. The property owner, Tantau Investors LLC, was represented by Todd Shaffer and Patty McGuigan of Cornish & Carey Commercial/ONCOR International.
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