Intermedia.net moving from Sunnyvale to Mtn. View
Silicon Valley/San Jose Business Journal, 3/1/2012
New York-based Intermedia.net Inc. is expanding its Silicon Valley presence.
Officials of the privately held company, which provides cloud services to small- and medium-sized businesses, have signed a long-term lease for more than 25,000 square feet at 815 E. Middlefield Road in the Mountain View Research Park.
Intermedia, founded in 1995, plans to move its 110 employees now working at 150 Mathilda Place, Suite 104, in Sunnyvale, and add about 15 new jobs, according to Cynthia Greenberg, a company spokeswoman.
"Due to our rapid growth, we need more space," said Michael Gold, Intermedia president. "We chose the office space because it is open and light, offers us our own building at the right size to handle our future growth, and we like the location in Mountain View. It is a space that supports our modern, entrepreneurial and team environment. We are eager for our company and employees to join the Mountain View community, and we look forward to growing our business and our relationships in the area."
Intermedia also has offices in London and St. Petersburg, Russia.
Representing the company in the transaction was CresaPartners’ John Brady, principal and founding partner of his company’s San Jose office; and Joe Brady, senior vice president. Partner Steve Horton, Senior Vice President Colin Feichtmeir and Associate Kelly Yoder in the San Jose office of Cassidy Turley Commercial Real Estate Services represented the landlord, Boston Properties Inc.
Feichtmeir said asking lease rates in Mountain View Research Park range from $2.35 to $2.50 per square foot, not including taxes, insurance and maintenance. The park features 16 buildings housing offices and research and development with a total of 600,000 square feet. Over the past six months, about 130,000 square feet has been leased out to new tenants.
"Intermedia it completely renovating the space, adding a new building facade and interior," said Feichtmeir, who is a senior vice president in Cassidy Turley’s San Jose office.
He said the previous tenant of the single-story building was Ditech Networks, which specializes in voice technology products. The company is now at 825 E. Middlefield Road in Mountain View