Bassett Technology Park is a research and office complex located at 3508-3580 Bassett Street in Santa Clara.
SANTA CLARA — A high-tech campus in Santa Clara has secured a new lease, bringing hope to the Bay Area's volatile commercial real estate market rocked by multiple setbacks.
Bassett Technology Park has signed new leases for approximately 101,000 square feet of land from two companies. The third lease, which is a renewal of an existing lease, represents a total transaction of approximately 175,000 square feet, according to commercial real estate firm Cushman & Wakefield, which arranged the lease.
The new high-tech campus at 3508-3580 Bassett Street in north Santa Clara said Cushman & Wakefield brokers Steve Horton, John Dequoit and Kelly Yoder completed the deal. The rental contract is as follows.
— EOTech has signed new leases totaling approximately 75,400 square feet. EOTech manufactures advanced optical sights and scopes.
— Evoloh signed new leases totaling 25,600 square feet. Evoloh is a green technology company.
Intevac, a manufacturer of thin film processing systems for use in the semiconductor field, has signed a long-term lease renewal for its headquarters site on the Tech Campus.
The deal means the fund, led by Hines, a veteran and savvy Texas-based real estate developer, is experiencing a success story with Bassett Technology Park.
Cushman's Dequoit said, “The Hynes-backed fund acquired Campus soon after the pandemic began, believing in the long-term supply and demand fundamentals for this type of product. “They tend to remain resilient at times.” & Wakefield Managing Director.
A Hines-led fund purchased six high-tech campuses in 2020.
“Bassett Technology Park's strategic location in the heart of Silicon Valley provides us with proximity to major technology companies as well as the region's strong tech talent pool,” DeCoit said.
