PRESS - Office and Research-and-Development Space - Intuitive Surgical Inc

Intuitive Surgical Inc. has quietly expanded its Sunnyvale footprint, leasing a large warehouse near its main campus there. The maker of robotic surgery systems leased an entire distribution building, according to a report published earlier this month from real estate brokerage Colliers. Intuitive's lease, signed in May, will run for 10 years, according to Avison Young, a rival brokerage. Company spokeswoman Peper Long confirmed Intuitive (Nasdaq:ISRG) leased the 126,788-square-foot structure located at 111 Uranium Dr. but not the length or start of the deal. She also declined to say how much Intuitive is paying for the property, when it plans to move in or how many employees will work there. "We continue to grow as our construction and expansion moves forward," Long told the Business Journal in an email. The new warehouse "provides us with the flexibility we need during our expansion." Intuitive leased the 1970s-era building from RREEF Property Trust. The New York real estate investment vehicle -- a subsidiary of DWS Group GmbH & Co. KGaA, Deutsche Bank AG's asset management company -- acquired the structure and the six-acre site on which it sits in 2019 for $46.2 million, according to real estate database Reonomy. Brokerage firm Jones Lang LaSalle Inc. represented RREEF, according to the listing brochure. JLL Brokers Greg Matter, Jason Cranston, David Sesi and Ada Wong declined to comment on the deal. Intuitive's lease comes amid a tight market for industrial space in Silicon Valley in general and in Sunnyvale in particular. The city has a 1.1% vacancy rate and 3.5% availability rate for warehouse and distribution centers, according to JLL's data. The average asking price for warehouse space in Sunnyvale is $1.41 per square foot, according to JLL. Even as it leased the warehouse space, Intuitive is continuing work on a new campus near its headquarters at 1020 Kifer Rd., where it also does manufacturing. The company is developing 1.21 million square feet of office and research-and-development space at 932, 945, 950 and 955 Kifer Rd. The campus, expected to be finished in 2024, will serve as a tech hub for the company, according to Long.

1,210,000 SF - Office, 3 Stories Above Grade, 364,000 SF New Construction, Laboratory, 3 Stories Above Grade, 847,000 SF New Construction.

Division 03 -	Concrete, Concrete Forming, Cast-in-Place Concrete, Precast Concrete.
Division 04 -	Masonry, Unit Masonry.
Division 05 -	Metals, Structural Metal Framing.
Division 06 -	Wood, Plastics, and Composites, Rough Carpentry, Finish Carpentry, Millwork.
Division 07 -	Thermal and Moisture Protection, Dampproofing and Waterproofing, Thermal Protection, Weather Barriers.
Division 08 -	Openings, Doors and Frames, Entrances and Storefronts, Windows, Vents.
Division 09 -	Finishes, Plaster and Gypsum Board, Tiling, Acoustical Ceilings, Flooring, Resilient Flooring, Carpeting, Painting.
Division 10 -	Specialties, Signage, Compartments and Cubicles, Toilet Compartments, Toilet, Bath, and Laundry Accessories, Emergency Aid Specialties, Fire Protection Specialties, Fire Protection Cabinets, Fire Extinguishers, Storage Assemblies.
Division 11 -	Equipment, Laboratory Equipment.
Division 12 -	Furnishings, Window Treatments, Casework, Specialty Casework, Laboratory Casework, Countertops, Laboratory Countertops, Rugs and Mats, Office Furniture, Institutional Furniture, Laboratory Furniture.
Division 14 -	Conveying Equipment, Elevators.
Division 21 -	Fire Suppression, Fire-Suppression Sprinkler Systems, Fire-Extinguishing Systems.
Division 22 -	Plumbing, Instrumentation and Control for Plumbing, Plumbing Piping, Facility Water Distribution, Facility Sanitary Sewerage, Plumbing Equipment, Plumbing Fixtures, Drinking Fountains and Water Coolers, Gas and Vacuum Systems for Laboratory and Healthcare Facilities, Compressed-Air Systems for Laboratory and Healthcare Facilities, Vacuum Systems for Laboratory and Healthcare Facilities, Gas Systems for Laboratory and Healthcare Facilities, Chemical-Waste Systems for Laboratory and Healthcare Facilities, Processed Water Systems for Laboratory and Healthcare Facilities.
Division 23 -	Heating, Ventilating, and Air Conditioning (HVAC), Instrumentation and Control for HVAC, HVAC Piping and Pumps, HVAC Air Distribution, HVAC Fans, Central HVAC Equipment.
Division 26 -	Electrical, Power Distribution Units, Lighting, Interior Lighting, Emergency Lighting, Exit Signs, Exterior Lighting.
Division 27 -	Communications, Structured Cabling, Data Communications, Voice Communications.
Division 28 -	Electronic Safety and Security, Electronic Access Control and Intrusion Detection, Electronic Detection and Alarm.
Division 31 -	Earthwork, Clearing and Grubbing, Grading, Soil Treatment.
Division 32 -	Exterior Improvements, Base Courses, Flexible Paving, Asphalt Paving, Rigid Paving, Concrete Paving, Curbs, Gutters, Sidewalks, and Driveways, Paving Specialties, Parking Bumpers, Pavement Markings, Fences and Gates, Irrigation, Planting.
Division 33 -	Utilities, Water Utilities, Sanitary Sewerage Utilities, Storm Drainage Utilities, Electrical Utilities.