The company is subleasing 62,000-sf from Entrust Inc., a Texas-based software company that is cutting corners on space and employees. Entrust will remain in 12,500-sf of the building. The building is located on 455 El Camino Real, near Santa Clara University, and was developed by Sobrato Development. Corey Waite of CB Richard Ellis brokered the deal. Lease rates in the area are seen at about $3 per sf.
Roxio relocated at a good time, as vacancy rates in Silicon Valley have reached double digits for the first time since 1995. During the last quarter of 2001, about one million sf of sublease space poured onto the market.
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