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California  + Bay Area  + Industrial  | 

Intermolecular Renews Full-Building R&D Lease in San Jose

Cushman & Wakefield represented the joint venture ownership of Cannae Partners and equity partner Blue Vista Capital Management in arranging a long-term lease extension for 3011 N. First St., a 146,159-square-foot research and development building in North San Jose. The tenant is Merck affiliate Intermolecular, which has occupied the property for more than a decade. 

Todd Beatty, Steve Horton and Kelly Yoder of Cushman & Wakefield represented the landlord. JLL’s Bret Yerkovich and Grant Dettmer represented the tenant. Cannae and Blue Vista have owned 3011 N. First since 2021.

“The building where Intermolecular operates offers a very attractive option as a strategic hub location and its existing infrastructure has proven well-suited to satisfy the tenant’s critical research and development needs,” said Beatty. “It is anticipated that the tenant will also be making additional customized improvements to further upgrade and modernize the facility.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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