August 7, 2020
Sand Hill Property Co. signed a 250,000-square-foot sublease with Guardant Health at 3000 Hanover St. in Palo Alto. The cutting-edge cancer testing company could house up to 1,200 workers in the office and laboratory space.
The company sought the space to support anticipated future growth under a deal that is expected to commence on October 1, 2021 and expire on June 30, 2033. Guardant Health plans to relocate from a roughly 82,000-square-foot headquarters in Redwood City.
The Palo Alto property encompasses 552,105 square feet across four levels that was built in 1985. Sand Hill acquired the iconic asset last year for $380 million. It is within Stanford Research Park and served as the headquarters to Hewlett Packard for more than 30 years before the company relocated to 220,000 square feet at 6280 America Center Dr. in North San Jose.
Cushman & Wakefield’s David Hiebert and Steve Bouret, along with Savills’ Mark Moser, brokered the Guardant Health lease.
For comments, questions or concerns, please contact Dennis Kaiser