Biotech firm buys north San Jose buildings amid large expansion
Takara Bio USA moving head offices from Mountain View
SAN JOSE >> The Silicon Valley unit of a Japan-based biotech firm has embarked on a major expansion with the purchase of two buildings sold by the University of California, in a deal that enables the company to relocate its local headquarters to north San Jose.
Takara Bio USA has bought two buildings from the University of California Regents, according to property documents on file with the Santa Clara County Recorder’s Office. The company will shift its local headquarters from Mountain View, where it currently is a tenant, to the pair of north San Jose buildings that the company has bought.
“This deal shows that north San Jose is a good market to expand into,” said Dave Sandlin, an executive vice president with Colliers International, a commercial real estate firm. “Takara can buy these two buildings and still expand to other buildings in the area later on.”
Takara paid $44.8 million
for the two buildings, according to property documents filed with county officials on May 12. The properties are part of the four-building Valley Research Center, located near the corner of Orchard Parkway and West Trimble Road and just down the block from North First Street and its light rail lines.
The buildings have the addresses of 2560 and 2570 Orchard Parkway. Each of the four buildings in Valley Research Center totals 64,500 square feet, according to a marketing brochure by CBRE, a commercial
real estate firm that has been seeking buyers or tenants for the office complex.
Takara Bio’s purchase totaled 129,000 square feet. Brokers from commercial real estate firms CBRE and Newmark Knight Frank arranged the transaction.
The deal appears to position Takara Bio USA for a significant expansion. At present, the company occupies roughly 57,000 square feet on at 1290 Terra Bella Ave. in Mountain View.
Mountain View is the scene of huge expansions and property acquisitions by tech titans, primarily
Google. The attraction of being in Mountain View has constricted the amount of office space available for smaller and medium-sized tech companies that hunger for more elbow room.
“This is a solid north San Jose office development,” said Bob Staedler, a principal executive with Silicon Valley Synergy, a landuse consultancy. “With the need for more square footage per employee, this development checks the boxes for that, as well as amenities.”