MOUNTAIN VIEW, CA-Fenwick & West, one of the leading law firms in Silicon Valley, has signed a 15-year lease renewal at 400 Castro St. here in Mountain View, CA. The firm is the sole office tenant at the six-story, 150,000-square-foot building.
Built in 2002, 400 Castro St. is owned by Tishman Speyer. Located in the heart of downtown Mountain View, the property is close to several restaurants and other valued amenities and is within walking distance of the Cal Train.
The building features exterior terraces, views of the nearby mountains, a 529-space parking garage and easy access to major highways. It is LEED Gold-EB certified and has received the EnergyStar label.
The tenant was represented by Clay Hammerstein, Doug Beck and Jon Moeller at CBRE. Tishman tells GlobeSt.com that it could not disclose aggregate lease value, asking or taking price per square foot at this time.
According to a recent Mountain View submarket report from Jones Lang LaSalle, asking rents in the area have remained on the upswing as large block availability greater than 30,000 square feet has become very limited. “Despite the lack of available space, the demand for high-quality space has been robust. Tenants continue to actively compete for space, especially in the Downtown Mountain View area,” the report says.
“Much like Palo Alto, larger blocks of class A products are either spoken for before they can officially reach market or have multiple interested parties negotiating on the space,” says the report. “With demand outpacing supply, developers are pushing forward with new construction projects in
Mountain View. Although a majority of new development has been pre-leased, there is 138,797 square feet of construction underway in Downtown Mountain View that is still on the market,” the report notes.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
