Excite@Home's Shelved Move Expands Peninsula Sublease Market

REDWOOD CITY, CA-The sublease market on the San Francisco Peninsula jumped by 250,000 sf recently with Excite@home’s decision not to occupy its new offices at Pacific Shores in Redwood City just yet. Hoping to at least cover its costs, the fully improved space with views of the Bay and the hills to the west is now being marketed for sublease at $4.95/sf/month.

The newly available space consists of a three-story, 93,000 building and a five-story, 157,000 structure. Neighbors at Pacific Shores include tech big names BroadVision, Informatica, Openwave, and Nuance Communications.

BT Commercial’s Mike Connor and Steve Bouret, who make up the leasing team for the space, say that the sublease term is flexible. “Though Excite@Home’s lease is for 12 years, they would consider a sublease term as short as 36 months,” says Connor. “There are a few large users in the market, but few of them are under any pressure to complete deals quickly.