The owners of Milpitas’ Murphy Crossing have just inked one of the largest leases in Silicon Valley this year. Embarcadero Capital Partners and True North Management Group signed a lease with Renasas Electronics America for 216K SF.
Murphy Crossing is now fully leased. The JV originally acquired the 368K SF five-building property in January.
Renesas expanded its lease by 90K SF to includ e all of 915 Murphy Ranch Road and extended the lease on its current 126K SF at 1001 McCarthy Blvd. and 933 Murphy Ranch Road. Renesas recently acquired Intersil Corp. and will consolidate this new company at Murphy Crossing, according to Embarcadero Capital Partners Director of Leasing Carol Donnelly.
Newmark Knight Frank Executive Managing Directors Shawn Kellenberger and Jeff Arrillaga and Senior Managing Director Michael Saign repped building ownership. JLL repped the tenant.
Murphy Crossing provides Class-A office and R&D and sits on 20 acres. It provides high ceilings and large floor plates. Amenities includ e a full-service cafeteria, outdoor collaborative areas, lawns and basketball and volleyball courts. Other tenants includ e Aerohive Networks and SonicWALL. The property is within the Interstate 237 corridor.
The NKF team also repped Embarcadero Partners and True North on a full-building lease of 189K SF with FireEye at 601 McCarthy Blvd. across the street from Murphy Crossing.