Satellite recently negotiated a lease with landlord Giampaoli Family Trust for a 23,192-sf space at 1400 Industrial Way. Satellite will occupy the entire freestanding, two-story building, where it will conduct research and development.
Satellite will relocate from its 8,000-sf location at 345 Convention Way in Redwood City this summer to accommodate growth, according to CRESA Partners, which represented the company in the deal. CB Richard Ellis represented the landlord, Giampaoli Family Trust. CRESA Partners is also handling the build-out and project management of the relocation.
The average asking price for this type of space in Redwood City is $1.89 pf triple net. The specific details of the lease were not available for this transaction.
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