July 25, 2016
Google reportedly signed a lease to take the entire 612,500 square feet available at Jay Paul Co.’s Moffett Gateway, a two-building, 7-story development in Sunnyvale, CA. The transaction would be the largest office lease in Silicon Valley so far this year, and the largest since Palo Alto Networks’ 1.1-million-square-foot deal in 2015.
While a transaction value wasn’t disclosed, monthly asking rates at Moffett Gateway are $3.95 (NNN).
The 15.5-acre site at 1225 Crossman Ave. includes 30,000-square-foot “high garden” green roof that includes a bar and barbeque area, seating and dining areas, and bocce courts. Moffett Gateway also has a 14,299-square-foot fitness center, a yoga studio, a TRX suspension training area and a 49,000-square-foot landscaped central commons.
Newmark Cornish & Carey’s Phil Mahoney handles leasing for Moffett Gateway, while the tenants’ South Bay leasing needs are handled by CBRE’s Jeff Houston.
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