A Fresh Take on CRE

Bay Area Weekly Comp Digest: Proquest Signs New Lease, State Farm Insurance Renews, and More!

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Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
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ProQuest Signs New Lease in Mountain View

The Michigan-based electronic and microfilm publisher recently signed a new lease for nearly 19,000 SF of an entire research & development building at 161 East Evelyn Avenue.  ProQuest agreed to pay rent starting in the low-$3.00s with 3% bumps for the 7-year lease term with an added 3 months of free rent. Click the link below to learn more about the building from our friends at 42 Floors!
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State Farm Insurance Renews in San Jose

The insurance and financial services corporation recently signed on for two more years at its near-27,000 SF of class B, full-service office space in Silicon Valley Center at 2590 North 1st Street.  The company agreed to pay around $2.25 PSF for the 2-year lease term.
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Arrayit Signs New Lease in Sunnyvale

The life-sciences tech company recently executed a lease for 15,000 SF of research & development space in the Thompson Place Business Park at 927 Thompson Place.  Landlord, Dollinger Properties, agreed to accept rent starting near $1.30 PSF with escalations of 3% in exchange for the 6-year term, 4 months of free rent, and TIs of $10 PSF.  Click the link below to read more about the deal in the Silicon Valley Business Journal.