TBI DEVELOPMENT ACQUIRES 'COMUNITY LENDING’ HEADQUARTERS BUILDING

Toeniskoetter & Breeding, Inc. Development has acquired the two-story, Class A, 38,755-square-foot office building at  610 Jarvis Drive in Morgan Hill, Senior Vice President Dan Amend announced. The building, which was completed in 2000, is 93% occupied by the national headquarters of mortgage company ComUnity Lending, Inc.
“The building at 610 Jarvis is another acquisition resulting from our partnership with Thrivent Financial for Lutherans,” Amend said.

RAPIDLY GROWING VOCERA COMMUNICATIONS, INC. MOVING HEADQUARTERS TO SAN JOSE BUILDING Of TOENISKOETTER & BREEDING DEVELOPMENT

SAN JOSE – Vocera Communications, Inc., Cupertino-based developer of the only wearable, hands-free instant voice communication system on the market, has leased 46,305 square feet of space at 525 Race St., announced Brad W. Krouskup, President and CEO of Toeniskoetter & Breeding, Inc. Development (TBI Development). Vocera plans to begin moving the first of its 110 Cupertino employees to the new headquarters in November.
“Vocera Communications is one of the fastest-growing private companies in the valley, and we are extremely pleased to have their headquarters in this landmark building,” Krouskup said. “The company’s voice-activated communication system is widely used in hospitals and other large buildings.”

Founded in 2000, Vocera Communications is now headquartered at 20600 Lazaneo Drive in Cupertino. “We’re moving to 525 Race Street for two primary reasons,” said Martin Silver, Vocera Chief Financial Officer. “The building has sufficient size to accommodate our expansion goals, particularly our need for more laboratory space, and the design and location provide a very strong corporate headquarters presence.”

The Vocera system provides instant voice communication in hospitals, retail stores and other building and campus environments. Users simply say the name, title or function of the person they need to reach. Their voices are picked up by a wireless instrument attached to collar or lapel, and the central system places the call. Last August, “Inc.” magazine named Vocera Communications to the 2007 list of the 500 fastest-growing private companies in the United States. And in September, the San Jose Business Journal named Vocera to its “Fast 50” list.

Toeniskoetter & Breeding Development built 70,000-square-foot 525 Race St. in 1998, and the building served as the Western Headquarters of Integrated Circuit Systems, Inc. (ICS), which was based in Norristown, PA. ICS was acquired by Integrated Device Technology (IDT) of San Jose, which in 2006 moved the ICS Western headquarters operations across town to the IDT campus. IDT subleased portions of the building to C2 Microsystems, a Beijing-based developer of software for networked digital home and mobile entertainment, and to Huaya Microelectronics, a Shanghai-based provider of digital TV and video processing devices for use in TV boxes, portable DVD players and car TV monitors.

Most of the building has remained vacant for more than a year. Krouskup said TBI Development is terminating the remaining year of the IDT lease, assuming the C2 Microsystems and Huaya Microelectronics subleases, and leasing most of the remaining space to Vocera. The transactions leave 5,000 square feet available for lease.

Jay Phillips and Wayne Kumagai of Cornish & Carey Commercial represented Vocera in the lease transaction. Joe Moriarty of CPS Commercial Property Services represented IDT in the lease termination discussions.   

Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed some 2.5 million square feet of buildings, manages a portfolio of two million square feet and serves as managing general partner for a number of diversified real estate properties throughout Santa Clara and Santa Cruz counties. TBI Development projects include 450 West Santa Clara Street and the O’Connor Health Center in San Jose; Gateway Square in Campbell, the Granite Creek Business Center in Scotts Valley, and the Madrone Business Center, Cochrane Business Ranch and Madrone Village Shopping Center, all in Morgan Hill.