Objective:
Tessera Technologies, Inc. (NYSE: TSRA) selected Spieker Stratmore
Commercial as its exclusive real estate advisor to achieve
the following objectives:
- Renegotiate
or relocate its 51,000 square foot R&D facility in San Jose
- Upgrade the
image of its office space
- Use market
leverage to allow Tessera to capitalize on historically low rental
rates
Result:
SSC accomplished the above challenges by implementing the following
plan:
- Along with
its architect and construction management team, SSC evaluated over
150 options for the Company before presenting TSRA with a list of
seven potential sites
- SSC targeted
buildings that possessed a substantial amount of TSRA’s required
infrastructure
- TSRA’s
heavy investment in clean rooms and R&D functions required particular
attention be paid to building infrastructure and necessary capital
improvements
- SSC evaluated
HVAC capacity, power and underground nitrogen supply line locations
prior to TSRA site tours
- As always,
the goal was to do as much due-diligence as possible to ensure that
TSRA’s Executives’ time was spent wisely
- The result
was a satisfied client with a significantly below-market rate
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