The Peninsula Industrial Pros

Your Commercial Real Estate Source in the San Francisco Bay Area

Apple Inks Another Large Lease in Sunnyvale

Tech Giant Has Now Taken At Least 475,000 Square Feet In Three Business Parks In Silicon Valley City

By Randyl Drummer

Apple Inc. has leased a new 156,000-square-foot building in downtown Sunnyvale, CA, the third large lease by the technology company in the city since last fall.

Long associated with its headquarters in Cupertino, Sunnyvale’s southerly neighbor, Apple will occupy the building in the Sunnyvale Town Center at 250 S. Mathilda Ave. at McKinley Avenue in about the third quarter, according to a news release from Sunnyvale City Manager Gary Luebbers.

In a deal revealed last month, Apple signed a long-term lease for 215,472 square feet for four buildings at E. Arques Ave. in the nearby Sunnyvale Research Center, 12 miles from Apple’s headquarters. Last fall, Apple signed a lease for buildings of 44,000 and 64,376 square feet at 995 and 975 Benicia St. in the Peery Park submarket.

Last May, Nokia merged several of its Bay Area offices into a new regional office on Mathilda and Washington avenues in the Sunnyvale Town Center, next to what will become Apple’s building. Nokia brought about 500 employees to staff the Town Center site, and Apple is expected to add about 400 employees there.

Luebbers called the Apple’s signing “an important step forward” for the Town Center redevelopment project, which like numerous other properties, has run into challenges as a result of the economic downturn.

Read more of CoStar article here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Information

This entry was posted on February 13, 2012 by in In the News, Office, Recent Leases, San Mateo County, Silicon Valley and tagged , .
%d bloggers like this: