Both businesses shared a headquarters in Santa Clara. However, now Pal hopes to separate the two businesses, creating a solo identity for PalmSource, which was created to develop Palm's operating system and license software to hardware manufacturers.
Palm will sublease 153,000-sf in three buildings of the million-sf, 19-building McCarthy Center in Milpitas from Cisco Systems, who leased the entire center in 2000. In addition, PalmSource has leased an 88,000-sf building in Sunnyvale from Network Appliances, who bought and renovated the property last year.
Phil Mahoney and Jay Belquist of Cornish & Carey Commercial Oncor International represented Palm and PalmSource, while Brian Woods and Jim McPhee of Jones Lang LaSalle Americas Inc. represented Cisco.
The asking rates for Milpitas and Sunnyvale are currently $2.30 to $2.50 per sf, full service, while in Santa Clara, average rental rates remain near $3.00.
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