Project Earns SIOR Northern California’s Top R&D/Flex Deal of the Year Award
January 16, 2020
SANTA CLARA, Calif. – Transwestern Commercial Services (TCS) today announces the restructure and expansion of Shockwave Medical Inc.’s (NAS:SWAV) headquarters in Silicon Valley. Transwestern Senior Vice President David Klein provided Occupier Solutions services for the newly public leader in the interventional treatment of advanced cardiovascular disease in adding 50,200 square feet at 5353 Betsy Ross Drive.
The new space is in an adjacent building to Shockwave’s current 35,000 square feet at 5403 Betsy Ross Drive, part of Great America Tech Center. Shockwave plans to make significant capital improvements to the property that houses its research and development, assembly and offices, with room to continue its sharp growth curve.
“Shockwave was locked into a short-term sublease that couldn’t sustain its growth or its technical requirements,” said Klein. “But like many R&D companies, a move would have presented a major disruption to its business. In restructuring and expanding its lease, we were able to secure excellent growth opportunity and financial benefits for Shockwave with minimal business interruption.”
The unique commercial real estate challenges of users like Shockwave is Klein’s specialty as a core member of Transwestern’s Life Science team in Northern California. His expertise has earned him SIOR’s Top R&D/Flex Transaction of the Year for three years in a row, including this transaction for Shockwave Medical.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.