Moffett Towers Sees Third Mega Lease Signing By High-Tech Tenants In As Many Months
Another high-tech giant has agreed to take up residence at Moffett Towers, a 1.8 million-square-foot office and research and development campus in Sunnyvale, CA.
Microsoft Corp. signed a long-term agreement to lease 237,000 square feet of office space at 1020 Enterprise Way at Moffitt Towers, developed by San Francisco-based Jay Paul Co. The world’s largest software provider will relocate and expand several business units currently based in Palo Alto and Mountain View. Microsoft plans to occupy the new LEED Gold (Leadership In Energy and Environmental Design) building in January 2012.
"Recent leasing activity at Moffett Towers alone has dropped the city of Sunnyvale’s office vacancy rate nearly 10 percentage points," noted Cornish & Carey Commercial Newmark Knight Frank Executive Vice President Phil Mahoney, who represents Jay Paul Co. in all Moffett Towers leasing. "This state-of-the-art campus is changing the landscape of this real estate market."
In April, CoStar reported that HP leased 393,776 square feet
at the campus, and further reported that in March, Motorola Mobility leased 236,444 square feet
at the towers. Rambus and Comcast also occupy space in the campus.
Other prospective tenants are pursuing both remaining spaces available for lease at Moffett Towers, including 225,000 square feet at 1120 Enterprise Way and 150,000 square feet at 1050 Enterprise Way, Mahoney said.
Construction of the seventh and final Moffett Towers building, the 230,000-square-foot 1100 Enterprise Way, is scheduled to begin soon.