Case Study

Summary

Middlefield Crossing is a two-story Office/R&D complex consisting of 175,697 square feet in two buildings located at 675-685 East Middlefield Road in Mountain View, California. Situated on 10.58 acres, the buildings now feature an updated exterior façade, an ample glass line, and dramatic two story lobbies.

Situation

  • Prudential had acquired a 175,697 square foot two story office project from Verisign in 2008, with Verisign leasing back the buildings through December, 2010.
  • Not unexpectedly, Verisign announced its intention to vacate the buildings at the end of the leaseback term.
  • The project’s site improvements and exterior architecture were untouched since the original construction in 1980, and the buildings needed dramatic repositioning in order to be competitive in the leasing market.
  • In 2010, Prudential selected Orchard Partners to act as developer for the renovation of the project.

Results

  • Working with its architect, Orchard conceived and designed an integrated market-ready improvement program which included new two-story entries with clear aluminum window frames and glass entry doors; replacement of the existing tile roof with a standing seam metal roof; replacement of window glass; updating of building elevations; and modern landscaping and site circulation. 
  • Orchard shepherded the entitlement process through the City of Mountain View’s architectural review board.
  • Orchard selected the general contractor and managed construction and consultants of the $6.0 million project.
  • The project was designed with the goal of LEED Silver Certification; currently we expect the project will achieve LEED Gold Certification.
  • As construction neared completion, tenant interest accelerated.  The project was leased 100% to Siemens Corporation and Zynga prior to completion of construction.
  • The value added by the project renovation can be estimated at two to three times the project cost.