Advantest Leases 94170 SF R&D Facility At 3055 Orchard Drive San Jose From Intercontinental Real Estate Corp

The property asset involved in the transaction is a mixed-use facility located at 3055 Orchard Drive in San Jose, encompassing a total square footage of 94,170. The building is owned by Intercontinental Real Estate Corp and has been leased to Advantest, filling a long-vacant space in the area.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Address: 3055 Orchard Drive
• Market: San Jose
• Asset Type: Mixed-use
• Landlord: Intercontinental Real Estate Corp
• Tenant: Advantest
• Landlord's Representative: Joe Kelly - Newmark
• Tenant's Representatives: Jeff Cushman & Chris D'Ambrosia - Cushman & Wakefield

Cushman & Wakefield represented Advantest in the negotiation of the lease, while Newmark acted on behalf of the landlord, Intercontinental Real Estate Corp. This lease indicates a recovery in demand for large standalone R&D space within Silicon Valley.