- Leading semiconductor company signs largest office lease in Silicon Valley so far in 2018
- Company leases two buildings just weeks after Hitachi Vantara leases 222,500 square feet
- Project now 91% leased
SANTA CLARA, Calif. (February 6, 2018) — Irvine Company announced today that Analog Devices, Inc. (ADI), the leading global high-performance analog technology company, is signing a lease to occupy 445,000 square feet at Santa Clara Square property.
The business will occupy 2555 and 2565 Augustine Drive, and its name will be displayed on the top of both buildings, offering outstanding visibility to Highway 101 commuters.
In March, ADI acquired Linear Technology. The lease enables ADI to consolidate its Milpitas and San Jose operations, bringing the teams together for enhanced collaboration, innovation and growth.
“The combination of Analog Devices and Linear Technology created an industry powerhouse. The move to Santa Clara Square will bring our two Silicon Valley operations together to enable closer collaboration and even greater innovation for our customers,” said Vincent Roche, ADI president and CEO. “We also believe that our new state-of- the-art facility will give us a competitive advantage as we offer the world’s top talent an opportunity to work with some of the industry’s brightest minds in an incredible next-generation office environment.”
The deal brings the 1.7-million- square-foot Santa Clara Square – which opened its 1.1 million square-foot second phase in September – to 91-percent leased, and comes two weeks after Hitachi Vantara, a data-management solutions business, announced a 222,500 square-foot leasing contract.
ADI, which plans to move into its new facility this fall, will join well-known tech leaders AMD, Ericsson, Cambridge Industries Group and Veritas Technologies, who signed their new building leases for 145,000 square feet in November.
Santa Clara Square is a sleek and modern commercial property with effective floor plans and outstanding natural light. It was designed by the world-famous Pei Cobb Freed & Partners firm.
All of Irvine Company’s signature amenities and experiences are available at Santa Clara Square. Employees can enjoy coffee and snacks at the two cafes or work out at the KINETIC® fitness and wellness center. They also have use of The Commons, an outdoor living area with complimentary Wi-Fi, that is perfect for events and meeting outdoors. Employees are welcomed to join Irvine Company’s bike share program or take advantage of Santa Clara Square’s on-demand transit with Lyft.
Santa Clara Square also boasts a 125,000-square foot commercial space that’s anchored by a 50,000-square-foot Whole Foods. The retail space includes upscale dining at restaurants like Il Fornaio and Opa!, and expansive spaces for farmers’ markets, music festivals and community gatherings that are designed for employees from different companies to relax and build relationships that can benefit their business.
The pedestrian-friendly commercial project includes 30 acres of open land and parks, including a Redwood Park Trail and links to the adjacent San Tomas Aquino Trail.
Irvine Company will open an apartment community that offers 1,800 luxury homes, offering resort-style living adjacent to world-class shopping and offices in mid-2018. The property will feature salt-water pools, a three-acre park and in-line shops. Santa Clara Square’s Main Street will also add 40,000 additional square feet of commercial, retail and service space as well as serve as the community’s city center.
“It is thrilling to bring a leading technology company like ADI to Santa Clara Square,” said Todd Hedrick, regional vice president, Irvine Company. “Santa Clara Square is the latest example of what forward-thinking companies are seeking – a vibrant workplace community with outstanding shopping and dining and luxury rental living within walking distance from their offices.”
For more information on Santa Clara Square, click here.
About Irvine Company Office Properties
Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged and creativity is enabled to elevate business success. The real estate investment company owns and manages 150 vibrant commercial workplace communities operating in Orange County, Los Angeles, Silicon Valley and San Diego. It also owns world-class skyscrapers in New York and Chicago. The portfolio includes 50 million square feet serving more than 3,000 companies. Its timeless design and quality craftsmanship is consistent with its long-term view and pride of ownership.
About Analog Devices
Analog Devices (NASDAQ: ADI) is the leading global high-performance analog technology company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret. Visit http://www.analog.com.