X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SUNNYVALE, CA-While dozens of companies in Silicon Valley continue to downsize, NetScreen Technologies Inc., which sells computer security products, has just signed one of the biggest real estate leases seen in the area this year.

NetScreen has signed a long-term sublease to occupy a 160,000-sf, two-story building at Ariba’s Sunnyvale headquarters. While the terms of the lease were not disclosed, the lease rate for the building falls between $1 and $1.80 per sf per month, triple net.

The building is part of a 715,000-sf development at Moffett Field owned by Jay Paul Co., which bought about 25 acres from Lockheed Martin to build the office campus. Ariba has a 12-year lease with the development firm and is subleasing the majority of the space.

To accommodate growth, NetScreen plans to relocate from its 70,000-sf of current space, which is spread between three Sunnyvale buildings, to the new Moffett Park building in February 2003.

NetScreen gained 50 employees recently when it acquired OneSecure Inc., a local intrusion-prevention company, and expects to add another 120 to 150 employees in the next year. Cushman & Wakefield brokers represented Ariba, while the Staubach Co. represented NetScreen.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.