{"id":1004772359,"date":"2025-09-23T02:18:39","date_gmt":"2025-09-23T10:18:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004772359"},"modified":"2025-09-23T02:18:41","modified_gmt":"2025-09-23T10:18:41","slug":"south-bay-lands-56-ksf-tenant-in-silicon-valley","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-bay-lands-56-ksf-tenant-in-silicon-valley\/","title":{"rendered":"South Bay Lands 56 KSF Tenant in Silicon Valley"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a530f0e00983&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004772361\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/south-bay-lands-56-ksf-tenant-in-silicon-valley\/3005-tasman-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3005 Tasman Drive\" data-image-description=\"&lt;p&gt;Image from Yardi Matrix&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The office property at 3005 Tasman Drive is part of a seven-building campus. Image courtesy of Yardi Research Data&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg\" alt=\"Exterior shot of 3005 Tasman Drive, an office building in Santa Clara, Calif.\" class=\"wp-image-1004772361\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The office property at 3005 Tasman Drive is part of a seven-building campus. <em>Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Global industrial IoT company Itron has signed a 56,258-square-foot lease at 3005 Tasman Drive, an office building within The Quad at Tasman campus in Santa Clara, Calif. Cushman &amp; Wakefield arranged the deal on behalf of the tenant and the landlord, South Bay Development Co.<\/p>\n\n\n\n<p>Itron is set to move to the new space around the fourth quarter of next year, according to <em><a href=\"https:\/\/www.bizjournals.com\/sanjose\/news\/2025\/09\/22\/quad-tasman-santa-clara-itron.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Silicon Valley Business Journal<\/a><\/em>.<\/p>\n\n\n\n<p>The company, which specializes in new ways for utilities and cities to manage energy and water, will relocate from 210 &amp; 230 W. Tasman Drive. In 2016, the firm agreed to fully occupy the two office and R&amp;D buildings totaling some 200,000 square feet, according to Yardi Research Data.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-visits-spike-in-these-cities\/\">Where Office Visits Are Spiking Now<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Quad at Tasman is a seven-building office and R&amp;D campus totaling 410,409 square feet, completed in 1980 and renovated in 2017. The two-story 3005 Tasman Drive is WELL certified. Amenities include EV charging stations, outdoor spaces and on-site cafe, along with gaming and fitness areas, as well as collaboration and meeting zones.<\/p>\n\n\n\n<p>Located in North Santa Clara, the building is close to Levi\u2019s Stadium and 6 miles from San Jose Mineta International Airport. Downtown San Jose, Calif., is 8 miles southeast.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield Executive Managing Directors Chris D&#8217;Ambrosia and Mark Carnese represented the tenant. Executive Managing Director Brandon Bain and Vice Chairman Erik Hallgrimson worked on behalf of the landlord.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-silicon-valley-s-office-vacancy-rate-drops-year-over-year\">Silicon Valley\u2019s office vacancy rate drops year-over-year<\/h2>\n\n\n\n<p>Silicon Valley\u2019s office vacancy rate at the end of the second quarter clocked in at 20.7 percent, marking a 70-basis-point increase from the previous quarter, according to a <a href=\"https:\/\/assets.cushmanwakefield.com\/-\/media\/cw\/marketbeat-pdfs\/2025\/q2\/us-reports\/office\/silicon-valley_americas_marketbeat_office_q2-2025_v2.pdf?rev=101b0c641e204df9baa803d3a907e27d\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cushman &amp; Wakefield report<\/a>. However, this figure was 1.6 percent lower year-over-year.<\/p>\n\n\n\n<p>In what was the <a href=\"https:\/\/www.commercialsearch.com\/news\/walmart-signs-record-bay-area-deal\/\">largest office lease in Silicon Valley<\/a> since 2023, the e-commerce division of Walmart agreed in June to occupy 338,307 square feet at Tech Corners in Sunnyvale, Calif. Jay Paul Co. owns the 967,204-square-foot, four-building campus.<\/p>\n\n\n\n<p>Other notable activities in the area include <a href=\"https:\/\/www.commercialsearch.com\/news\/the-sobrato-organization-lands-record-hq-deal\/\">Zscaler\u2019s headquarters deal<\/a> for more than 300,000 square feet at Great American Corporate Center in Santa Clara. The company subleased the space from Airbnb.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A global industrial IoT company will occupy the space.<\/p>\n","protected":false},"author":3355,"featured_media":1004772361,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,36079,15],"tags":[32799],"class_list":["post-1004772359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-san-jose","category-west","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>South Bay Lands 56 KSF Tenant in Silicon Valley - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"South Bay Development Co. inked a 56,258-square-foot lease deal with Itron at 3005 Tasman Drive, an office building in Santa Clara, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/south-bay-lands-56-ksf-tenant-in-silicon-valley\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Bay Lands 56 KSF Tenant in Silicon Valley\" \/>\n<meta property=\"og:description\" content=\"South Bay Development Co. inked a 56,258-square-foot lease deal with Itron at 3005 Tasman Drive, an office building in Santa Clara, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-bay-lands-56-ksf-tenant-in-silicon-valley\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-23T10:18:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-23T10:18:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/09\/3005-Tasman-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-bay-lands-56-ksf-tenant-in-silicon-valley\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-bay-lands-56-ksf-tenant-in-silicon-valley\\\/\"},\"author\":{\"name\":\"Vicentiu Fusea\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6f90c90d1e85956f06679ddabc844412\"},\"headline\":\"South Bay Lands 56 KSF Tenant in Silicon Valley\",\"datePublished\":\"2025-09-23T10:18:39+00:00\",\"dateModified\":\"2025-09-23T10:18:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-bay-lands-56-ksf-tenant-in-silicon-valley\\\/\"},\"wordCount\":372,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/south-bay-lands-56-ksf-tenant-in-silicon-valley\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2025\\\/09\\\/3005-Tasman-Drive.jpg\",\"keywords\":[\"Cushman &amp; 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