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Bixby Signs $25M Office Lease After $10M Redesign

GlobeSt.com

One of the results of the redesign is a striking exterior courtyard lounge area for tenants.

One of the results of the redesign is a striking exterior courtyard lounge area for tenants.

SANTA CLARA, CA-Bixby Land Co. has signed an eight-year office lease with Infoblox to fully occupy the 127,000-squarefoot, two-building office campus at 3111 Coronado Dr. here. The lease was signed just as Bixby completed a $10 million redesign that adjoined the buildings with a dramatic, two-story glass pavilion, added contemporary amenities to facilitate efficient operations and created a striking exterior courtyard lounge area for tenants.

With the transaction, Infobox, a technology firm that delivers automated network-control solutions, is doubling the size of its office space. The total lease consideration is valued in excess of $25 million; Bixby was represented by Christian Marent, RobShannon and Ben Knight of CBRE, while Infoblox was represented by Terry Bell and Joe Elliott of Colliers International.

"We set out nine months ago to redesign the project for a user such as Infoblox that required a collaborative, highly efficient, highly amenitized work environment," said Bixby’s president and CEO Bill Halford in a prepared statement."The fact that the lease was signed literally as we finished construction speaks to the functional, contemporary sense of space that the project conveys and to the growing demand for high-quality work environments by tenants."

As GlobeSt. previously reported, Bixby’s redesign of the project involved a complete recladding of both buildings to deliver modern exterior lines and maximize the outdoor space, including the addition of an outdoor living room for tenants. Bixby hasdesigned a contemporary courtyard gathering area that includes couch seating, fire pits, recessed lighting, an outdoor kitchen and grill, drought-tolerant landscaping and an attractive waterscape feature. Building upgrades also included new HVAC equipment and new roofs. The renovation created 127,000 square feet of contiguous, highly upgraded office space in order to meet the high demand for large blocks of space in the tight Silicon Valley office market.

The company is also nearing completion on another project in Silicon Valley, the $11 million renovation and redesign of a 164,000-square-foot, three-building office campus on River Oaks Pkwy. in San Jose. The River Oaks campus was assembled by Bixby in two separate transactions in July 2011 and is slated for completion in July of this year. Halford added that Bixby continues to seek value-added investment opportunities in primary Western US markets, with a predominant focus in California