RAE Systems Inc., a leading global developer and manufacturer of rapidly-deployable, multi-sensor chemical and radiation detection monitors and networks for homeland security and industrial applications, today announced that it has completed the purchase of the property located at 3775 North First Street in San Jose, Calif., from CarrAmerica Realty Operating Partnership, L.P. for a purchase price of $5 million in cash.
The 67,000-square-foot building occupies a 4.6 acre parcel and will serve as the new worldwide headquarters for RAE Systems. The facility will house the company's administrative, sales and marketing, technical support, and research and development functions. Approximately 150 employees will work at the new site, and the company expects to occupy the building near the end of the first quarter of 2005.
"RAE Systems has achieved many milestones over the past 14 years in our home in Sunnyvale, but we've reached a point in our company's development where we need more space to accommodate our growth," said Robert I. Chen, chief executive officer of RAE Systems. "Our new facility in San Jose is located just a few miles from our current site, so the relocation will be a minimal distraction as we continue to focus on cutting-edge wireless sensing solutions for our customers around the world."