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
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