Uber Expands Presence in Silicon Valley with Two Leases Totaling 291,000 SQFT

By Meghan Hall

Just months after filing to go public, Uber has signed two leases in downtown Sunnyvale that total close to 291,000 square feet, according to The Mercury News. The new leases, located at 200 S. Mathilda Ave. and 190 Mathilda Place, will allow the ride sharing company to expand further into Silicon Valley and could accommodate up to 1,900 workers. 

Cushman & Wakefield’s Steve Horton and Kelly Yoder, Jeff Housing and Vincent Scott of CBRE, as well as David Churton, Rich Branning and Steve Clark of JLL, worked to arrange the transaction. 

The first building, 200 S. Mathilda Ave., is 157,000 square feet in size; the building is currently occupied by Nokia Technologies and owned by J.P. Morgan. 190 Mathilda Place, located just across Washington Ave. from 200 S. Mathilda, is smaller at 134,000 square feet and is also owned by J.P. Morgan. The buildings were part of a group of four marketed by CBRE and Cushman & Wakefield for lease. The campus, called Cityline, totals five  office buildings in all and also includes 100 and 150 Mathilda Place, and 250 S. Mathilda Ave. According to a marketing brochure, the campus totals 318,614 square feet and features an array of amenities such as a fitness center, showers, conference facilities, bike storage, outdoor amenity area and secure parking garage.

The complex is also located in a rapidly growing part of Sunnyvale. While downtown currently has more than 400,000 square feet of existing Class A office space, retail and apartments, the properties are adjacent to a one million square foot development, proposed by STC Venture, that will feature a 55,000 square foot Whole Foods, an AMC movie theater and more than 100,000 square feet of restaurants and shops. 

Despite the its foray into Silicon Valley, Uber still remains committed to its presence in San Francisco, where the company is headquartered. The company’s IPO filing, released in April, revealed that Uber plans to spend $1,943 billion on leases in San Francisco over the next 20 years. The leases are for five buildings throughout the city: Mission Bay 1, 2, 3 and 4, as well as an additional lease at Pier 70. Currently, Uber has 2.2 million square feet of office space in San Francisco and 7.7 million square feet of office space around the world.

West Coast Commercial Real Estate News