Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MENLO PARK, CA-Intuit Inc. has staked claim to a three-building, 210,000-sf campus here owned by Bohannon Development Co. The maker of accounting and tax software leased two of the three 70,000-sf buildings in a deal that includes rights to lease the third, according to Howie Dallmar and Kevin Cunningham of Cornish & Carey Commercial, Bohannon’s leasing agents for the Jefferson Park Drive development.

Located at 180 and 190 Jefferson Dr. near the western approach to the Dumbarton Bridge, the three-story buildings have been vacant for several years. Built in 1997, they were most recently occupied by Sun Microsystems. “Intuit had a group looking for a campus environment over more than 100,000 sf,” Dallmar says. “They couldn’t find space in Shoreline, where the group is currently housed, because it also home to Google, which has had a huge appetite for picking up space there, so they looked north and south.”

The mid-term lease, valued at approximately $15 million, further tightens the Mid-Peninsula office market, where the vacancy rate at the start of 2006 was 27%, due in large part to space given back by Sun Microsystems. Leasing activity was strong in 2006, however, and by the end of the year the vacancy rate had fallen to 12.4. Less than two months later, Dallmar says that figure is now on its way to 10%. “There’s been considerable activity in the 101 Corridor,” he says.

The buildings will be ready for Intuit to occupy this summer. Intuit likely will not vacate any space in order to occupy this building, Dallmar says. Instead, the company, which has its headquarters in Shoreline Park in Mountain View, will use the campus as expansion space.

Paul Bryant and Bart Lammersen of the Staubach Co. represented Intuit. Neither broker could be reached Friday for comment.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.