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Conceptus Inks 73,000-SF HQ Lease in Milpitas

10 Year Deal Signed for Office, Lab Space
December 20, 2012
Conceptus, Inc. entered into a lease agreement with MRTP LLC for new premises in Milpitas, CA. The new space, consisting of 73,000 rentable square feet of office and laboratory facilities, will serve as the company’s principal offices and corporate headquarters.

Murphy Crossing Building 2 at 1011 McCarthy Blvd. in the Murphy Ranch Technology Center totals 74,026 square feet of flex space.

The term of the lease is 10 years with rights to extend the term for an additional seven years at fair market value subject to specified terms and conditions.

The aggregate minimum lease commitment over the 10-year term is $18.5 million. The company provided the landlord a letter of credit of $2.2 million to secure obligations under the lease, and the landlord has a requirement to provide tenant allowances of up to $3.3 million.

CoStar Group Senior News Editor Mark Heschmeyer contributed to this HQ News report.

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