Santa Clara's Coronado Park Office Campus Lands Its First Tenant

June 28, 2017

The Irvine Co. has signed the first lease in the Coronado Park office campus at its Santa Clara Square mixed-use development in Santa Clara.

Duarte Inc., a storytelling and business communications company, will move into the nearly 25,000-square-foot building at 3200 Coronado Park in August. The building is the largest of the seven, single-story office buildings in the Coronado office park, which sits at the south end of the Santa Clara Square mixed-use development.

The company is trading in its current home at 755 North Mary Ave. in Sunnyvale, a building also owned by Irvine Co.

Nancy Duarte, CEO at Duarte, said in a statement Wednesday the company was looking to grow and found a willing partner in Irvine to find the right space. “The location is beautiful and a convenient way to seamlessly continue our creative momentum," she said.

The remaining six buildings at Coronado Park, which sits just south of a Whole Foods – the anchor retail tenant for the Santa Clara Square Marketplace– range in size from about 4,800 square feet to 9,750 square feet. The buildings are currently been renovated, but close to being completed, a spokesperson for the company said Wednesday.

Irvine Cos. has added open-air workspaces, updated the interiors and landscaping as part of its "refresh" for the buildings in Coronado Park.

In all, the small office park has more than 76,000 square feet of space. It’s separated by The Marketplace from the larger six-story office buildings that Irvine is building along Highway 101, but still considered part of the overall campus known as Santa Clara Square.

Workers at Coronado Park will have access to many of the same amenities that larger tenants do at the site, including on-demand Lyft ride-sharing services from the Caltrain Station, which Irvine Co. is offering in lieu of a shuttle program for the development.

Those larger buildings along Highway 101, known as The Campus, are being erected in phases.

The first phase included three buildings with about 220,000 square feet of space each, which were completed last year and have been almost fully leased by Ericsson, Advanced Micro Devices and Cambridge Industries Group.

Irvine's second phase, underway now, will include five more buildings and more than 1 million square feet of office space. No tenants have been announced for the second phase of the development.

The announcement about Duarte comes a couple months after Todd Hedrick, regional vice president at Irvine Co., said in an interview that he’d recently seen more interest from small companies looking to fill part of those buildings than large tenants seeking a structure all to themselves.

“I think it’s just a pause period right now in the market,” he said. “But we have a lot of activity in terms of single-floor and multi-floor users, so we’re starting to see that piece of the market.”

 

Originally published on June 28, Silicon Valley Business Journal

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