SAN JOSE — A tech company has signed a lease for a significant chunk of San Jose office space, a deal that signals the company’s expansion in the area and helps put a bit of a dent in the local vacancy rate.
Netherlands-based semiconductor maker NXP leased space at 110 Rose Orchard in San Jose, according to Drawbridge Realty, the owner of the tech campus that includes the just-rented office and research building.
NXP rented about 40,100 square feet at the Rose Orchard office and research building, Drawbridge stated.
With this lease, the five-building tech campus that Drawbridge owns is now 100% leased, according to the real estate firm.
The rental transaction offers a welcome counterpoint to the dreary string of tech industry layoffs and retreats from occupying office space.
In addition to the recent lease, NXP also occupies San Jose offices at 350 Holger Way and 411 East Plumeria Drive. These offices are all in north San Jose, although none are adjacent.
Drawbridge bought the campus in 2019 for $128.2 million, according to Santa Clara County real estate records.
The tech campus, which totals 314,500 square feet, is now completely leased up.
Besides NXP, the other tenants in the campus are onsemi, Labcyte, ARM and LitePoint.
In the wake of the coronavirus, the tech industry reappraised its office space needs. Some tech companies decided to sublease their office space while others paid to exit existing lease contracts.
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