Irvine Co. Inks HQ Lease in Silicon Valley

2600 Great America Parkway. Image courtesy of Commercial Edge

Tech company Silergy Technology has signed a 27,715-square-foot lease at Irvine Co.’s Santa Clara Gateway office campus. Cushman & Wakefield Managing Director Alex Lagemann brokered the lease agreement on behalf of the tenant, which will expand its Silicon Valley corporate headquarters at the property.

Silergy will relocate from Sunnyvale, Calif. to Santa Clara, Calif., and will occupy the entire top floor of the six-story 2600 Great America Parkway, located within the three-building campus. The company’s new headquarters will include both office and lab space.

Standing on a on a 14-acre lot, the 164,594-square-foot building came online in 2014 , according to CommercialEdge. Designed by Pei Cobb Freed, the LEED Gold- and Energy Star-certified property features a market café, a fitness center, open-air collaboration spaces, two game rooms, as well as surface parking, bike lockers and EV charging stations.

READ ALSO: California, a Leader in LEED-Certified Office Buildings

The property offers connectivity to Highway 237, as well as freeways 880, 680 and 101, being within walking distance of local transportation stations. The retail, dining and recreation destinations at Santa Clara Square Marketplace are also accessible by foot. Levi’s Stadium, Hyatt Regency Santa Clara and the Santa Clara Convention Center are less than 2 miles of the property.

The Silicon Valley office market witnessed growth in Q1

The Silicon Valley office market closed the first quarter with a positive net absorption of 152,767 square feet, due to large office lease signings, according to a Colliers report. The average vacancy rate reached 10.7 percent, marking a 30-basis-point decrease since the previous quarter and down 10 basis points year-over-year.

According to the same report, while widespread tech layoffs have affected numerous Silicon Valley companies, the impact on actual office workers has been minimal. In fact, many companies are utilizing this market instability as an opportunity to restructure their businesses.