Adesto Technologies Relocates, Expands

SUNNYVALE, CA-Sushma Malhotra of CresaPartners in San Jose recently represented Adesto Technologies in a 20,000-square-foot office lease at 1250 Borregas Ave. in Sunnyvale, CA. Adesto, the leading developer of Conductive Bridging RAM technology, is expanding from its previous location at 1221 Innsbruck Dr. in Sunnyvale.

According to Narbeh Derhacoabian, CEO of Adesto, the company is relocating to the single-story class-A office building, which offers custom interiors and a laboratory, in order to optimize space efficiency and support its R&D needs. The company plans to be fully moved in September 2011.

The landlord, Dollinger Properties, represented itself in the transaction. CresaPartners tells GlobeSt.com that the company previously occupied 9,750 square feet but could not provide lease terms or further details to GlobeSt.com at this time.

According to CresaPartners San Jose Q2 market report, lease rates continue to rise as demand remained strong in Q2 2011. “High quality space is most desired, and rates are being pumped up with each large block of space being leased,” says the report. “Hiring in the technology sector is steadily increasing, which continues to drive the market upward. Unemployment levels have dropped to 9.9%, down from 10.5% last quarter.”

From the tenant’s perspective, according to the CresaPartners report, with each month of 2011, the market continues to strengthen, “which means that terms, conditions and concessions are swinging in favor of the landlord in this market cycle,” the report says. “Accordingly, now is the time to extend an existing lease or acquire space, as tenants should consider locking in present lease rates for the long term prior to a sustained run-up.” According to CresaPartners, “tenants should engage assistance early, survey the market and develop schedules and project budgets now, and be flexible with demographics, as it will be more difficult to locate affordable space in the most desirable areas of the Valley.”