CUPERTINO, CA-Computer giant Apple Computers will sublease an entire Cupertino building from software company Sun Microsystems, which signed a 10-year lease in 1996, after Apple moved out.
After almost two decades of residing in its former Cupertino office building at 20525 Mariani Ave., Apple Computers let its lease expire in 1995 and moved out. In 1996, Sun Microsystems signed a 10-year lease for the three-story, 103,600-sf building.
Now, Apple has signed a four-year sublease deal with Sun that will bring Apple back to the facility. The site is near Apple’s current 860,000-square-foot R&D quarters on Infinite Loop.
Gregg Von Thaden of Colliers International represented Apple in the transaction, while Penny Streff of Jones Lang LaSalle, in addition to Rod Scherba and Corey Brand of Cornish & Carey Commercial – ONCOR, represented Sun Microsystems. The building is owned by Menlo Equities, a Menlo Park real estate investment company. The average asking rate for this are is $3.03 per sf.