TBI ACQUIRES THREE CAMPBELL BUILDINGS

Toeniskoetter & Breeding, Inc. Development has acquired three adjacent office buildings located between Winchester Boulevard and Camden Avenue in Campbell. The three one-story buildings at 743, 745 and 747 Camden Ave. total 61,056 square feet and were acquired from a partnership owned by the family of the late Howard J. White III, Vice President Dan Amend of TBI Development announced.

DAN AMEND NAMED DIRECTOR OF CHILDREN’S DISCOVERY MUSEUM

Daniel T. Amend, Vice President of Toeniskoetter & Breeding, Inc. Development (TBI Development), has been appointed to the Board of Directors of the Children’s Discovery Museum. Mr. Amend also has joined the museum’s Committee on Exhibits & Programs, which is developing the “Art Loft,” a new art studio for children 4 to 10 years old for which TBI is making a significant contribution.

CANARY COMMUNICATIONS LEASES NEW HEADQUARTERS IN MORGAN HILL’S MADRONE BUSINESS PARK

MORGAN HILL -- Canary Communications, a developer and manufacturer of connectivity products for the Ethernet Local Area Network market, has leased 10,688 square feet of space in the Madrone Business Park,” President Brad Krouskup of Toeniskoetter & Breeding Inc. (TBI) Development announced. Founded in 1987 and based in South San Jose, Canary plans to relocate its administrative offices, research and development and light industrial manufacturing to the new location at 18655 Madrone Parkway.

“Canary Communications is the first tenant in a complex with buildings of 40,000 and 60,000 square feet,” Krouskup said. “TBI Construction is now constructing build-to-suit tenant improvements for them, and we expect this work to be completed by next February.”

Jeff Criswell of Cushman and Wakefield represented Canary Communications, and Steve Pace and Erik Hallgrimson of CPS Commercial Property Services represented TBI Development in the lease transaction.

In addition, TBI Development has leased 4,108 square feet of space in the Granite Creek Business Park in Scotts Valley to Calima Technologies for the new company’s first offices, according to Dan Amend, Vice President of TBI Development. Co-founded by Scotts Valley entrepreneurs Robert G. Taylor and Barbara Mathews, Calima is developing imbedded imaging hardware and software products with such applications as still cameras, digital video cameras and top box appliances.

Amend said the lease at 5617 Scotts Valley Drive brings the business center to 93% occupancy. Randy Parker with the Santa Cruz Office of J.R. Parrish represented TBI Development, and Matt Shelton of the same office represented Calima in the lease transaction.

“In the last 60 days we have seen growing strength in the 5,000- to 20,000-square-foot leasing market,” Krouskup said. “Based on the number of businesses now in the market, we anticipate that the Madrone Parkway buildings will be fully leased by next summer.”

While Silicon Valley may have between 40 million and 60 million square feet of space available for lease or sublease, much of this space is previously used and may not meet the needs of a particular business, Krouskup said.

“In the real estate industry, this previously used space is known as ‘plug-in-play’ and companies like Canary may find that it does not meet their needs as well as build-to-suit space,” Krouskup said. “Additionally, much of the space that is vacant in the valley is for sublease with varying terms of expiration. Direct leases with landlords for turnkey, build-to-suit tenant improvements constitute the most attractive option for most companies.”

The 110-acre Madrone Business Park is located on the north side of Cochrane Road between Freeway 101 and Monterey Road. The third largest business park in Silicon Valley, Madrone is home to Media Arts Group, Inc., which manufactures and markets the art of painter Thomas Kinkade; EDO Reconnaissance and Surveillance Systems; and contract manufacturer Paramit Corporation. Also located there are a Marriott Courtyard Inn, Marriott Residence Inn, and a Chevron Service Station and store.

Founded in 1983, TBI Development has developed more than two million square feet of buildings and serves as managing general partner for a number of diversified real estate properties throughout Santa Clara and Santa Cruz counties. In addition to the Granite Creek Business Center and the Madrone Business Park, these developments include the 30-acre Cochrane Business Ranch adjacent to Madrone; 450 West Santa Clara Street, O’Connor Health Center and the western headquarters for Integrated Circuit Systems, all in San Jose; and Gateway Square in Campbell.