The proposed transaction is in its due diligence phase.Prospective lease terms are not being made available due to abinding confidentiality agreement signed by both companies.
Pacific Commons recently received approvals for the full 8.3million sf business park within the site's 255-acre developmentfootprint. Approximately 774,000 sf of space is already completeand occupied, and another 240,000 sf is currently underconstruction.
Some 74,000-sf of the light industrial space currently underconstruction was leased to Intel Corp. earlier this month. TheIntel lease includes an option to purchase the first building uponcompletion, and a separate option to lease an additional 100,000square foot office building.
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