Magma is subleasing the first four floors from Siemens. The fifth floor is being leased directly from EOP. Siemens' master lease expires in 2011. The direct lease is believed to be co-terminus. The leases commence on Feb. 1. EOP's full-service asking lease rate for space at Skyport Plaza is $2.75 per sf per month. The sublease rate was not disclosed but is believed to be substantially below the asking rate.
Magma will use the space for its headquarters, which are currently located at 5460 Bayfront Plaza in Santa Clara. Magma did not return a phone call seeking comment.
Christian Marent and Steve Fischer of CB Richard Ellis represented Siemens. George Fox of Studley represented Magma Design Automation. Anne Ralston and Todd Shaffer of Cornish & Carey represented EOP along with its in-house staff Brittain Cheney and Lesley Robinson.
Skyport Plaza is a 38-acre mixed-use development that upon completion will consist of 1.1 million sf of office, retail and residential space. Phase I, which is complete, consists of three eight-story office buildings and 40,000 sf of retail space. Phase II will include an additional 500,000 sf of office space.
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