Tech firm’s exit from Bay Area leads to sale of old Silicon Valley HQ

SUNNYVALE — A tech firm’s decision to exit the Bay Area and move to Southern California triggered the sale of the company’s Sunnyvale headquarters.

In 2024, Idec Corp. bought a research and industrial building in Carlsbad for $49.5 million.

That purchase was a prelude to the company’s decision to sell its Sunnyvale headquarters to Global Star Properties U.S. Corp. for $32 million, county documents show.

The Southern California building totals 233,200 square feet. Idec Corp.’s former Sunnyvale headquarters at 1175 Elko Dr. totals 83,600 square feet.

Idec Corp. produces an array of advanced technology products, including switches for robotics and touchscreens to help automate industrial machinery.

Sunnyvale-based Global Star is involved in real estate investing, according to information posted on the California Secretary of State website.

Global Star Properties’ chief executive officer is Zihua Chen, who is based in Sunnyvale. The real estate firm’s chief financial officer, Yin Wan Lo, is based in Hong Kong.

The deal comes at a time when the South Bay office market has begun to perk up with tech companies ramping up leasing activity.