NetScreen has signed a long-term sublease to occupy a 160,000-sf, two-story building at Ariba's Sunnyvale headquarters. While the terms of the lease were not disclosed, the lease rate for the building falls between $1 and $1.80 per sf per month, triple net.
The building is part of a 715,000-sf development at Moffett Field owned by Jay Paul Co., which bought about 25 acres from Lockheed Martin to build the office campus. Ariba has a 12-year lease with the development firm and is subleasing the majority of the space.
To accommodate growth, NetScreen plans to relocate from its 70,000-sf of current space, which is spread between three Sunnyvale buildings, to the new Moffett Park building in February 2003.
NetScreen gained 50 employees recently when it acquired OneSecure Inc., a local intrusion-prevention company, and expects to add another 120 to 150 employees in the next year. Cushman & Wakefield brokers represented Ariba, while the Staubach Co. represented NetScreen.
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