Contract electronics manufacturer NBS Design Inc. is moving its headquarters to the Dixon Landing Business Park in Milpitas, CA
Milpitas migration will bring 200 manufacturing jobs from NBS
February 1, 2013
Nathan Donato-WeinsteinReal Estate Reporter- Silicon Valley Business Journal
NBS Design Inc., a growing contract electronics manufacturer based in Santa Clara, is moving its headquarters — and 200 jobs — to Milpitas.
The deal grows NBS’s physical footprint from 36,000 square feet at its current location to 54,500 square feet. NBS is currently based at 2950 Patrick Henry Drive in Santa Clara and will be moving in March to 1940 Milmont Drive in Milpitas, in the Dixon Landing Business Park.
“We’ve been packed in here like sardines,” said Chris Alessio, vice president of sales and marketing for NBS.
Indeed, the company has witnessed strong growth in recent years. NBS started in 1999 as an electronics design firm, and in 2004 added manufacturing capability. Sales have zoomed from $2 million a year in 2004 to $60 million a year in 2012, and NBS has designs on hitting $100 million a year in the next three to five years, Alessio said.
Terms of the deal were not disclosed, but asking rents for manufacturing space in Milpitas in the fourth quarter was about 82 cents per square foot, according to the latest Cassidy Turley numbers. Vacancy in the submarket stood at 9.23 percent, down from 13.75 percent a year ago.
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