LEASED
Cannae And Blue Vista Extend Intermolecular Lease For R&D Building In San Jose
3011 North First Street
Industrial
Leased 38 days ago
Summary
Lease
CALIFORNIA
Industrial
The lease for a 146,159-square-foot R&D building located at 3011 North First Street in San Jose has been extended to Intermolecular, a materials innovation firm affiliated with Merck KGaA. The property, which includes 28,300 square feet of lab space, was acquired in June 2021 for $28.9 million by Cannae Partners and Blue Vista Capital Management.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $28.9 million
- Address: 3011 North First Street
- Market: San Jose
The negotiations for the lease extension were facilitated by Kelly Yoder, Steve Horton, and Todd Beatty from Cushman & Wakefield acting as the Landlord's Representatives, while Bret Yerkovich and Grant Dettmer from JLL represented the Tenant, Belén Garijo - Merck KGaA - Intermolecular.
Players
All
7
Agents
5
Agencies
2
Details
LEASED
IMAGE: 03/26/2024
ADDRESS: 3011 North First Street
MARKET: San Jose
ASSET TYPE: Industrial
LANDLORD: Cannae Partners; Blue Vista Capital Management
TENANT: Belén Garijo - Merck KGaA - Intermolecular
LANDLORD'S REP: Kelly Yoder, Steve Horton & Todd Beatty - Cushman & Wakefield
TENANT'S REP: Bret Yerkovich & Grant Dettmer - JLL
LEASE TERM: long-term
NOTE: Cannae Partners and Blue Vista Capital Management, in a joint venture, extend the lease for a 146,159-square-foot R&D building in San Jose to Intermolecular, a materials innovation firm affiliated with Merck KGaA. The property, acquired in June 2021 for $28.9 million, includes 28,300 square feet of lab space and underwent negotiations facilitated by Cushman & Wakefield and JLL.View on map
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Address3011 North First Street
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