January 22, 2020
Transwestern Commercial Services has completed the restructuring and expansion of lease agreements for Shockwave Medical Inc.’s (NAS:SWAV) Silicon Valley headquarters, more than doubling its existing footprint with 50,200 square feet of space at 5353 Betsy Ross Dr., an adjacent building to Shockwave’s current 35,000 square feet of offices at 5403 Betsy Ross Dr. at the Great America Tech Center in Santa Clara.
Transwestern’s David Klein, SVP with the company’s Northern California Life Science team, represented Shockwave in the transaction. According to the announcement, Shockwave plans to make significant capital improvements to the property.
“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.”
For comments, questions or concerns, please contact Chris Egger