PALO ALTO, CA—Due to an open-source provider's sustained growth and the need for a future headquarters that can grow with the company, Cloudera has executed a lease for a new global headquarters at 395 Page Mill Rd. Terms of the agreement were not disclosed.

“Because of continued steady growth as a company, we need a campus where we can build our future for years to come,” said Steve Hirai, senior director of corporate services at Cloudera. “It was very important for us to remain in Palo Alto, and to gain flexibility to expand as we continue to grow and mature.”

The campus at 395 Page Mill Rd. became a strategic asset for Cloudera in supporting the company's long-term expansion plans in the competitive Silicon Valley talent market. The 10-acre, nearly 230,000-square-foot campus features a fully equipped build-out which allows Cloudera to achieve its goals without incurring much of the capital costs associated with relocation and tenant improvements. Cloudera plans to move into the space in late summer 2017.

Hirai tells GlobeSt.com: “Being in the heart of Silicon Valley is key to our strategy for recruiting and retaining the best and brightest talent in the big data industry. Within walking distance of Caltrain, 395 Page Mill Rd. makes it easy for employees to travel between Cloudera's San Francisco and Palo Alto offices, and enables us to access both talent markets. 395 Page Mill offers us stability and flexibility to grow further. It will be our headquarters for years to come.”

Owned by Jay Paul Company since 2006, the building is a class-A institutional quality asset originally built by Hewlett-Packard in 2000 for its spin-off of Agilent Technologies. Located in the heart of Palo Alto, the property also has its place in Silicon Valley lore as the site of the first corporate office established by William Hewlett and David Packard upon moving HP out of their Palo Alto garage in 1942.

“We are thrilled to have secured such an advantageous deal for our long-time client, Cloudera, in perhaps the tightest and most expensive market in the country,” said Ben Stern, a Newmark Cornish & Carey executive managing director representing Cloudera together with senior managing director Jon Cannon. “It was particularly gratifying to help them acquire the right space and at the same time eliminate the risk associated with financing a build-to-suit or substantial tenant improvements.”

Newmark Cornish & Carey's Phil Mahoney and Howie Dallmar represented Jay Paul Company in the lease transaction. Stern and Cannon will handle potential subletting of the property.

Cloudera is a provider of a secure data management and analytics platform built on Apache Hadoop and the latest open-source technologies.

“This was a challenging search and we are excited to have delivered a deal that meets Cloudera's needs so well,” said Stern. “In addition to securing the right space in a severely constrained city with such fierce competition for space, we also structured a financially advantageous transaction that will allow our clients to phase in their occupancy and take advantage of the hot sublease market.”

Newmark Cornish & Carey's Phil Mahoney and Howie Dallmar represented Jay Paul Company in the lease transaction. Stern and Cannon will handle potential subletting of the property.

Cloudera is a provider of a secure data management and analytics platform built on Apache Hadoop and the latest open-source technologies.

Instant Insights /

Page Mill Road Nabs Another HQ Company

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