July 26, 2016
Visa Inc. plans to open a new office in the Silicon Valley at the Minkoff Group’s redeveloped 385 Sherman Ave. in Palo Alto, CA. The transaction, reportedly valued at $86 million, is one of the largest and highest value office leases completed in Palo Alto in the last five years.
The new 62,000-square-foot facility replaced a 1950’s one-story building on the .64-acre redevelopment site acquired from Sand Hill Property Co. The global payments technology company, which also confirmed its HQ officially returned to San Francisco, continues to accelerate digital commerce globally.
The new office will be a combination of office and collaborative spaces for approximately 300 employees that are focused on technology research, business intelligence, data security and merchant solutions.
Cushman & Wakefield represented the landlord, while CBRE represented the tenant.
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