Tech firm rents San Jose space where hundreds could work

Semiconductor company strikes deal for building in Rose Orchard campus

SAN JOSE >> A tech company has leased a big San Jose office building in a deal that bolsters the occupancy of a local business park.

ON Semiconductor, whose brand name is onsemi, has struck a deal to lease 92,400 square feet in a North San Jose tech park, according to Drawbridge Realty, the owner of a five-building complex where the just-leased offices are located.

Potentially 300 to 400 onsemi employees could work in the office building, which is at 150 Rose Orchard Way in San Jose,

The building is part of the Rose Orchard office and research campus in San Jose located a short distance from State Route 237 and the Zanker Road interchange.

In 2019, Drawbridge Realty paid $128.2 million for the tech campus, which totals 315,000 square feet.

The purchase at that time represented an 83% jump from the price that the prior owner, Shorenstein Properties, paid in 2015.

Shorenstein, a prominent developer, embarked on a wide-ranging renovation and facelift for the Rose Orchard office complex following the 2015 purchase.

The deal with Arizonabased onsemi, whose affiliates include a company called Onsemi, was described as a long-term lease.

“We're delighted to welcome onsemi to the Rose Orchard campus,” said Charlie McEachron, chief operating officer with Drawbridge Realty.

Drawbridge Realty was able to accommodate onsemi at the 150 Orchard location through early termination of a lease with an existing tenant, Arm Inc., in the building. Arm Inc. continues to occupy a nearby building in the tech park at 120 Rose Orchard.

With the onsemi rental agreement, the Rose Orchard campus is 87% leased, according to Drawbridge.

“We were able to collaborate with the onsemi and ARM teams to provide the space and flexibility that both tenants required,” McEachron said.