Microsoft Moving to Moffett Towers

Microsoft Corporation announced this week that it has entered into a long-term lease agreement to take up 237,000 square feet at Moffett Towers in Sunnyvale, California according to a GlobeSt.com article. The company will be making the move from its current spaces in Palo Alto and Mountain View, a total of roughly 160,000 square feet of space, and expects to begin occupying 1020 Enterprise Way in January 2012. While the terms of the deal were undisclosed, it's been reported that asking rates for Moffett Towers are $2.95 per square foot per month.

Moffett Towers is a 1.8 million square foot office/R&D campus in the heart of Silicon Valley developed by San Francisco-based Jay Paul Company. Other tenants include HP, which leased 393,776 square feet in April, and Motorola Mobility, which leased 236,444 square feet in March.

"Microsoft's lease is another significant endorsement from a market leader of the unparalleled Moffett Towers office park experience," said Cornish & Carey Commercial Newmark Knight Frank Executive Vice President Phil Mahoney, which represents Jay Paul Company's Moffett Towers property in all leasing engagements. "Recent leasing activity at Moffett Towers alone has dropped the city of Sunnyvale's office vacancy rate nearly 10 percentage points. This state-of-the-art campus is changing the landscape of this real estate market."

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