Palo Alto Networks Pursues 1M SF Santa Clara Lease
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The tech giant is shifting Santa Clara space, and now plans to fill up to 5,000 people in a new HQ on a 20-acre development site. The company agreed to rent four buildings totaling 752k SF, according to a regulatory filing, with the option to lease a fifth building totaling 300k SF. The leases could add up to 1.05M SF. Cornish & Carey's Tom Sweeney, Lori Sweeney and Andrew Hueser, in addition to Colliers International's Gregg von Thaden and Don Reimann, worked on the deal.
Palo Alto Networks' current HQ at 4401 Great America Pkwy totals 300k SF with space for 1,500 employees. Back in 2011, Bisnow wrote about its 110k SF HQ relocation to 3300 Olcott St in Santa Clara (above), moving from just 35k SF in Sunnyvale. Palo Alto Networks at the end of 2014 had 1,722 workers worldwide, which was 50% higher than a year earlier.