MADRONE VILLAGE SHOPPING CENTER OPENING

Toeniskoetter & Breeding Inc. Development (TBI Development) will open the first phase of the 80,000-square-foot Madrone Village Shopping Center, President Brad Krouskup announced. The four initial businesses there will be South Valley National Bank, Peet’s Coffee & Tea, FedEx Kinko’s and Chipotle Mexican Grill. Together the four will occupy more than half the space in the four-building, 28,000-square-foot first phase.

TBI DEVELOPMENT NEARING COMPLETION OF BARRACUDA NETWORKS HEADQUARTERS

CAMPBELL, California  –- Toeniskoetter & Breeding, Inc. Development is nearing completion of a new headquarters in Campbell for Barracuda Networks, a rapidly rising creator of spam firewalls and web filters. Founded in 2002 and operating in 43 countries, Barracuda is expected to move in June into a 61,424-square-foot building at 3175 Winchester Blvd. managed by TBI Development for the Bryan Family Partnership, reports TBI Development Senior Vice President Dan Amend.

Barracuda’s new headquarters is in one of four buildings totaling 241,475 square feet that the Bryan Family Partnership asked TBI Development to manage in 2005. The building had been occupied by PCOM Networks, but PCOM was experiencing financial difficulty and no longer needed most of the space.

To help PCOM and free the Campbell space for another user, TBI Development offered to relocate PCOM to another of the Bryan Family buildings, a 19,219-square-foot, single-story structure at 1996 Lundy Ave. in San Jose. While the proposed reduction in rent wasn’t enough to save PCOM from eventually declaring bankruptcy, the market for selling owner-occupied buildings of that size was extremely strong. TBI Development placed the Lundy Avenue building on the market and received multiple bids. The Bryan Family Partnership sold the building to AnaLeasing llc for use by AnaCom Computer Co. Brokers Mike Rosendin and Craig Fordyce of Colliers International represented TBI Development, and Dave Schmidt and Marty Morici of Colliers International represented AnaLeasing in the sale. 

Barracuda Networks, meanwhile, liked the Campbell location. TBI Development agreed to upgrade the landscaping, paint the exterior, remodel the lobby and restrooms and demolish and replace the out-of-date interiors. TBI Construction & Construction Management, Inc. is doing the construction, and Barracuda Networks signed a long-term lease for Class A offices. Jay Phillips of Cornish & Carey Commercial represented Barracuda, and Bob Shepherd of Colliers International represented TBI Development in the lease transaction. TBI Development will continue to manage the building.

          Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed some 3 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 totaling approximately 2 million square feet. TBI Development also has an equity partnership with Minneapolis-based Thrivent Financial for Lutherans that led last year to acquisition of 120,000-square-foot First Franklin Plaza at 2150 North First Street in San Jose and three office buildings in Campbell totaling 61,056 square feet.