N****s
发帖数: 267 | 1 Exclusive: Why Cisco is shedding its massive Milpitas campus
LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP)
today announced it will be
launching a significant capital plan to reposition its 471,580-square-foot
Campus Center asset in Milpitas,
California.
Construction will begin in January 2018 immediately following the lease
expiration of Campus Center’s existing
tenant, Cisco Systems. Cisco had previously indicated it would opt out of
its lease at the end of 2017 and provided
formal notice this week of its intention to leave.
The repositioning will include several of Hudson Pacific’s signature
improvements: entrance and lobby
renovations; over 100,000 square feet of contemporary, market-ready office
space; master-planned landscaping;
and enhanced outdoor recreation areas, including dedicated sporting areas,
patios, collaborative seating and
direct hiking trail access. NBBJ is the architect of record for the common
area improvements with Shlemmer
Algaze Associates on point for interior design. Brokerage firm Cushman &
Wakefield is marketing the property for
lease.
“Campus Center is another opportunity for us to create value by making
substantial asset-level improvements that
will be attractive to top-tier tenants,” said Victor Coleman, Chairman and
Chief Executive Officer of Hudson Pacific
Properties. “Demand for high-quality office space remains strong in Silicon
Valley, and we’re tracking multiple
users in the market with requirements in excess of 400,000 square feet. We
view this lease expiration as an
opportunity to engage with another large tenant like Cisco or find several
large tenants for the property.”
Campus Center consists of three office and R&D buildings with the ability to
develop up to approximately one
million square feet of additional office, R&D, warehouse or manufacturing
space. The 65-acre property is in Santa
Clara County near McCarthy Ranch and is proximate to a number of leading
global technology firms. Campus
Center is also close to public transit and the I-880 and 237 Freeway
interchange, and is easily accessible to
downtown San Jose, San Jose International Airport, Silicon Valley, as well
as downtown Oakland and Oakland
International Airport.
In connection with the early termination notice, Hudson Pacific received a
payment of $10.4 million. The company
expects to write off approximately $5.9 million of non-cash items (i.e.
straight-line rent receivable and
above/below market rent lease adjustment) associated with the early
termination. This will result in net
amortization beginning with the second quarter of approximately $1.5 million
per quarter through the remainder of
this year. | t**8
发帖数: 4527 | 2 思科会逐渐缩小规模， 变成一软件公司， 为华为服务 | M**4
发帖数: 731 | 3 思科不庞大了，湾区office square footage最多的是Google, Apple, 然后才是Cisco
。从数字上看Google几乎是Cisco的两倍。
【在 N****s 的大作中提到】
: Exclusive: Why Cisco is shedding its massive Milpitas campus
: LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP)
: today announced it will be
: launching a significant capital plan to reposition its 471,580-square-foot
: Campus Center asset in Milpitas,
: California.
: Construction will begin in January 2018 immediately following the lease
: expiration of Campus Center’s existing
: tenant, Cisco Systems. Cisco had previously indicated it would opt out of
: its lease at the end of 2017 and provided
| j**********r
发帖数: 3798 | |
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