Even before ground was broken last year, Jay Paul Co.'s $500 million tech campus in Pacific Shores had companies lined up to lease nine of the ten buildings slated for completion this spring. Now, of the project's 1.7 million sf, about 500,00 sf is up rent and more may be coming.
ExciteAtHome doused plans to move into 250,000 sf of new offices at Pacific Shores last month. The Internet portal and broadband provider than began marketing the space to others in an effort to recover some of the reported $15 million in annual rent. In addition, 161,000 sf in the recently completed Building 10 is coming on the market too.
According to some reports BroadVision may put its two buildings onto the sublease market later this month. BroadVision officials say the company still plans to occupy the buildings it leased last year.
Despite the glitch in tech industry growth plans, Openwave, Nuance Communications and Informatica all plan to begin occupying their leased spaces this month through October. Nuance leased 141,000 sf at Pacific Shores.
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