Stanford Research Park is a technology park located in Palo Alto, California on land owned by Stanford University. Built in 1951, as Stanford Industrial Park, it claims to be the world's first technology-focused office park.  Frederick Terman is often credited with the idea and success of the Stanford Research Park, which was the first university-owned industrial park at the time of its founding and played a key role in creation of Silicon Valley. In 1953, Varian Associates relocated to Palo Alto to become the first tenant of the new Stanford Industrial Park. Early tenants included Hewlett-Packard, General Electric, and Lockheed.