Samsung Electronics purchased its 8.5-acre campus in Mountain View, California. The newly constructed 385,000-square-foot facility includes two, six-story Class A office buildings and two garages plus one acre of open space.
TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, in partnership with Farallon Capital Management leased the property to Samsung in 2012, prior to obtaining entitlements, as a build-to-suit with a 15–year lease term, which provided Samsung a purchase option after completion. Samsung exercised the option and now owns the property.
"We are extremely pleased to have had this opportunity to create a world-class headquarters in Mountain View for Samsung," said Michael Covarrubias, Chairman/CEO of TMG Partners. "The project is a great example of cooperation between the City of Mountain View, Samsung and the neighborhood."
"TMG Partners exceeded our expectations and was a great partner helping Samsung to achieve our corporate real estate objective of locating our research and development engineers in a state-of-the art facility," said Marc Ketzel, Vice President of Samsung Research America. "Ultimately, TMG completed the project under budget and ahead of schedule. We are very proud to now be a part of this thriving community and provide our employees a fantastic work environment.”
Rocky Fried, Managing Member at Farallon, said ''We were gratified to partner with TMG to develop and improve this world-class property that we believed, in time, would be attractive to a world-class organization like Samsung.”
TMG's Samsung project included founding the Mountain View Transportation Management Association and leading the launch of the new MVgo shuttle system that provides free last mile rides to Mountain View employment campuses and Caltrain.