Bixby Land Company Signs Infoblox to $25 Million Lease in Silicon Valley

SANTA CLARA, Calif. & IRVINE, Calif.--(BUSINESS WIRE)--Bixby Land Company, a leading commercial real estate operator and investment manager based in Orange County, Calif., has signed a new 8-year lease with Infoblox to fully occupy the 127,000-square-foot, two-building office campus at 3111 Coronado Drive in Santa Clara, Calif. The lease was signed just as Bixby completed a $10 million redesign that adjoined the buildings with a dramatic, two-story glass pavilion, added contemporary amenities to facilitate efficient operations and created a striking exterior courtyard lounge area for tenants.

“The fact that the lease was signed literally as we finished construction speaks to the functional, contemporary sense of space that the project conveys, and to the growing demand for high quality work environments by tenants”

“We set out nine months ago to redesign the project for a user such as Infoblox that required a collaborative, highly efficient, highly amenitized work environment,” said Bill Halford, president and CEO of Bixby Land Company. “The fact that the lease was signed literally as we finished construction speaks to the functional, contemporary sense of space that the project conveys, and to the growing demand for high quality work environments by tenants,” added Halford.

Bixby’s redesign of the project involved a complete recladding of both buildings to deliver modern exterior lines and maximize the outdoor space, including the addition of an outdoor living room for tenants. Bixby has designed a contemporary courtyard gathering area that includes couch seating, fire pits, recessed lighting, an outdoor kitchen and grill, drought tolerant landscaping and an attractive waterscape feature. Building upgrades also included new HVAC equipment and new roofs.

Infoblox, a Santa Clara-based technology firm that delivers automated network control solutions - the fundamental technology that connects end users, devices and networks - is doubling the size of its office space.

The total lease consideration is valued in excess of $25 million. Bixby Land Company was represented by Christian Marent, Rob Shannon and Ben Knight of CBRE. Infoblox was represented by Terry Bell and Joe Elliott of Colliers International.

Bixby’s renovation created 127,000 square feet of contiguous, highly upgraded office space in order to meet the high demand for large blocks of space in the tight Silicon Valley office market. The company is also nearing completion on another project in Silicon Valley, the $11 million renovation and redesign of a 164,000-square-foot, three-building office campus on River Oaks Parkway in San Jose. The River Oaks campus was assembled by Bixby in two separate transactions in July, 2011 and is slated for completion next month.

“Both of these projects reflect Bixby’s ability to add value by visualizing a property’s potential and then deploying the resources to deliver vibrant work spaces that meet the needs of today’s workforce,” said Halford. “We continue to seek value added investment opportunities in primary Western U.S. markets, with a predominant focus in California.”

About Bixby Land Company

Bixby Land Company is a leading commercial real estate operator and investment manager with a portfolio of assets under management nearing $1 billion. The company is a privately-held REIT with a focus on core industrial and value add investments in R&D and office properties throughout the Western U.S. Bixby Land Company has a vertically integrated operating platform backed by a veteran management team. For more than 100 years, Bixby Land Company has been committed to adding value for its investors and shareholders. www.bixbyland.com.