ANN ARBOR, MI-Barracuda Networks has agreed to lease 45,000 square feet in a mixed-use building at 317 Maynard St. here in the downtown. The property was formerly used as office space by the now-defunct Borders Books company, but was not the most recent headquarters location.
Borders used the Maynard Street building as its flagship store and had offices at the property. Ann Arbor, MI-based First Martin Corp. purchased the three-story building, and is leasing up the property. Colliers International, including brokers Jim Chaconas, Brendan Cavender and Richard Timmons represented Barracuda in the lease at the building, which is one block from the University of Michigan central campus.
The cyber security firm, based in Campbell, CA, is expanding out of about 12,000 square feet at a building on Depot Street in the city. The company will reportedly move about 175 employees to the Maynard Street building, and will receive a $1.2 million state incentive in return for a promise to about double the amount of jobs at the new building.
Chaconas tells GlobeSt.com that the new building is becoming a software hub for the city. Google leases about 80,000 square feet across the street. “They’re getting a lot of UofM students to work here, to create this area,” he says. Chaconas is working with First Martin to find a tenant for the empty two-story Borders store at the property, which took up about 44,000 square feet. He’s also marketing the most recent Borders headquarters complex, an empty 330,000-square-foot property on Phoenix Drive in the city.
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