Uber, Square's Latest Space Plans
We got the scoop on some S.F.-based tech giants setting up shop in the Valley—and vice versa.
Uber is looking for space in Palo Alto or a nearby submarket, according to active tenant requirements info we obtained. Square just did a deal in Santa Clara for about 6,700 SF at 5451 Great America Pkwy, sources add. There are likely more S.F.-based tenants looking down south, but because the leasing environment is so competitive, we hear tenants are more secretive. We broke news about Yelp's plans to plant a flag in Silicon Valley this year. (We have pressed a button on our phone hoping Uber will send a comment—but none has arrived yet.)
To flip the script, sources also say more tenants based in Silicon Valley are looking for a satellite office in S.F.—or moving up here entirely. Tenants in the market for coveted S.F. space include Palo Alto's Criteo and Sunnyvale's Electric Cloud. They each have 5k SF requirements, while San Mateo's Marketo is searching for 15k SF. It’s unclear if these companies intend to move or just set up a second office.