SAN JOSE—Splunk Inc. executed a long-term lease for 100% of 500 Santana Row, a 234,500-square-foot office building under construction at Santana Row on Winchester Boulevard and Olsen Drive, according to Federal Realty Investment Trust. Newmark Cornish & Carey represented Federal Realty and Splunk, provider of a software platform for real-time operational intelligence.

The class-A space at 500 Santana Row is scheduled to deliver in 2016 and features six levels of office space above a four-level, below-grade parking garage containing approximately 670 spaces. The all-concrete structure features 13-foot ceiling heights, a modern glass curtain wall, private terraces, private bicycle lockers and showers, and is built to a LEED Gold standard by Devcon Construction. The office property was designed by WRNS Studio, a San Francisco-based architectural firm. Both firms are managed by Federal Realty and its development consultant, Westwood Interests.

Seth Bland, vice president of development for Federal Realty Investment Trust, tells GlobeSt.com: “In making the market-driven expansion of office space at Santana Row, we looked carefully at tenant trends and recognized how young knowledge workers are driving evolution of the social workplace, especially Millennials. Demographers point out that these young knowledge workers have completely blurred the lines between the work environment and the rest of their lives. By delivering the new 500 Santana Row project within Silicon Valley's most popular shopping and dining destination, we're offering companies a place where employees can cross-connect and interact seamlessly with others, both inside and outside their firms. What we're creating is not an insular workplace, it's the opposite, an open campus where people move easily and collaborate with colleagues, see their friends for lunch, use the fitness center, or go shopping."