SAN JOSE — A technology company has leased a large office building in San Jose as part of a deal that bolsters occupancy at a local business park.
ON Semiconductor, whose brand name is onsemi, has reached an agreement to lease 92,400 square feet in a north San Jose technology park, according to Drawbridge Realty, which owns a five-building complex where the upcoming offices are located. to be praised.
Potentially 300 to 400 onsemi employees could work in the office building, located 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 technology campus, which totals 315,000 square feet.
The purchase at that time represented an 83% jump from the price the previous owner, Shorenstein Properties, paid in 2015.
Shorenstein, a leading developer, undertook a major renovation and facelift for the Rose Orchard office complex after the 2015 purchase.
The deal with Arizona-based onsemi, whose subsidiaries include a company called Onsemi, was described as a long-term lease.
“We are thrilled to welcome onsemi to the Rose Orchard campus,” said Charlie McEachron, COO of Drawbridge Realty.
Drawbridge Realty was able to welcome onsemi to the 150 Orchard location due to the early termination of a lease with an existing tenant, Arm Inc., in the building. Arm Inc. continues to occupy a nearby building in the Technology Park at 120 Rose Orchard.
With the onsemi lease agreement, the Rose Orchard campus is 87% leased, according to Drawbridge.
“We were able to work with the onsemi and ARM teams to provide the space and flexibility that both tenants needed,” McEachron said.
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Post expires at 2:59am on Saturday June 25th, 2022