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Prometheus Real Estate Group Inks Several Deals in Cupertino

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					Prometheus Real Estate Group Inks Several Deals
in Cupertino
Commercial Property Now 95 Percent Leased

February 24, 2010 01:49 PM Eastern Time  

CUPERTINO, Calif.--(EON: Enhanced Online News)--Prometheus Real Estate Group Inc. (Prometheus), the
largest private owner of multi-family properties in the San Francisco Bay Area, has completed more than 60,000
square feet of office leases in the past 75 days at its Cupertino City Center buildings. Located in Cupertino, Calif., at
20400 & 20450 Stevens Creek Boulevard in the heart of Silicon Valley, the buildings total approximately 355,000
square feet of Class-A office space.

Lab 126, an Amazon.com company that was the innovator of the Kindle, expanded its premises by an additional
15,388 square feet and is the largest tenant in the project. Erich Sengelmann and Ze Figueirinhas of Jones Lang
LaSalle represented Lab 126 in the transaction. MagnaChip, a designer and manufacturer of semiconductor
products, will take almost 6,000 square feet of space as it relocates from Sunnyvale, Calif. Payam Tabar of CB
Richard Ellis represented the tenant. Todd Shaffer of Cornish & Carey represented Prometheus on both of these
transactions, which bring the buildings to 95 percent leased.

“As the economy continues to struggle, it is nice to have a high occupancy rate,” said Brett Miles, Commercial Asset
Manager for Prometheus. “Still, we are aware of the challenges that remain in the leasing market and will continue to
be proactive and aggressive to get things done.” 

In addition to these new deals, Prometheus has also been able to extend two existing tenants’ leases that were
scheduled to expire in 2010. CRC Health, the largest provider of specialized behavioral health care services in the
U.S., renewed its lease of 27,125 square feet. Global investment firm D.E. Shaw & Co. also recently signed an
extension for 13,959 square feet. Jim McPhee and Travis Boyd of Cushman & Wakefield represented CRC and
Shane McNulty of CBRE represented D.E. Shaw while Miles and Marni Lopez represented Prometheus on both
deals.

“We value the opportunity to continue working with CRC Health and D.E. Shaw and appreciate the cooperation
from their brokers throughout the deal process,” said Miles.

About Prometheus

Prometheus is the largest private owner of multi-family properties in the San Francisco Bay Area with a growing
portfolio of more than 18,000 metropolitan-area apartments in the Bay Area, Seattle, Portland, Ore., and Los
Angeles communities. Since its inception in 1965, Prometheus has specialized in the acquisition, development and
management of high quality residential and commercial properties throughout the Western United States. Prometheus
has a long history of award-winning approaches to development, management and general excellence. Recognition in
2009 includes six prestigious awards: two National Association of Home Builders (NAHB) awards, one Action for
Beauty Award, one Best in California Landscapes Award and one Bay Area Green Business Award. For more
information, visit http://prometheusreg.com.

Contacts
Prometheus Real Estate Group
Cindy Park, 650-931-3417
cpark@prometheusreg.com

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Description: CUPERTINO, Calif.--(EON: Enhanced Online News)--Prometheus Real Estate Group Inc. (Prometheus), the largest private owner of multi-family properties in the San Francisco Bay Area, has completed more than 60,000 square feet of office leases in the past 75 days at its Cupertino City Center buildings. Located in Cupertino, Calif., at 20400 & 20450 Stevens Creek Boulevard in the heart of Silicon Valley, the buildings total approximately 355,000 square feet of Class-A office space. Lab 126, an Am a style='font-size: 10px; color: maroon;
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