facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Lease

/

3001 West Tasman Drive

Fermi Wang Of Ambarella Corp. Leases 57871 Square Feet Office At 3001 Tasman Drive
LEASEDOffice

Fermi Wang Of Ambarella Corp. Leases 57871 Square Feet Office At 3001 Tasman Drive

3001 West Tasman Drive

Building Size

57,871 SF

Asset Type

Office

Closing

Jan 8, 2025

AI

Located at 3001 Tasman Drive in the Santa Clara market, the property is an office asset with a total square footage of 57,871. The facility will undergo improvements to accommodate its new tenant.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 3001 Tasman Drive
  • Market: Santa Clara
  • Tenant: Fermi Wang - Ambarella Corp.
  • Brokers: Ben Stern & Philip Mahoney - Newmark

Ambarella Corp. plans to occupy the new office location by September, transitioning from their current site on Jay Street and aiming to house over 200 employees within the facility.

Players

Philip Mahoney

Newmark

Broker

$325M

vol

3 deals

Broker

Santa Clara Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93