The five-story building, located at 700 First Ave. in Sunnyvale, represents a major expansion for Marvell, a broadband company specializing in developing communications solutions for Internet. Marvell plans to add about 200 employees to fill the space, which it will begin occupying in early 2002.
The lease rate was not released, but similar rents in the area average about $30 per sf, triple net, annually. Subleases are generally signed for 5-10 years. Alan Guterman and Danny Yu of BT Commercial Real Estate/NAI represented Marvell. Tom McGovern and David Tipton of Cresa Partners represented Yahoo.
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