Currently, some of the larger properties on the market include 3Com's 875,000-sf office campus in Santa Clara; 865,000-sf of Cisco System's space in Milpitas and Santa Clara; Sony's 465,000-sf of space in San Jose; and Sun Microsystems' 430,000-sf campus in Cupertino.
While the market is not looking good for large properties, some smaller deals have been negotiated in the area recently. 4D Matrix has leased approximately 13,500-sf of space from landlord, Rudolph Alfinito, at 1060 Terra Bella Ave. in Mountain View, in a deal valued at about $1.4 million.
Also, while one of the buildings at CarrAmerica Realty Corp.'s San Mateo Centre is vacant, leasing agents have filled the other two 72,000-sf buildings with several smaller tenants. The 1800 Gateway Blvd. building recently pulled in six new tenants.
Plan Design Consultants leases 6,000-sf for five years; Elliott & True Medical Group signed a lease renewal for a 3,300-sf office for four years; Waddell & Reed also leased 3,300-sf; Electronic Strip Inc. leased 3,000-sf for four years; Culver Careers signed a four-year lease for 1,100-sf; and Carroll & Co. signed a five-year lease for 1,100-sf.
While the lease rates were unavailable, the monthly asking rate at San Mateo Centre is $3.20/sf, monthly.
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