Thursday, March 10, 2011
Palo Alto, California - The Net Lease Properties news today comes from an outstanding area, Palo Alto. A new net lease was signed by Skype to take space at the Stanford Research Park. This Stanford Research Park is a rarity among net lease properties. The Stanford Research Park is located in the City of Palo Alto, California. This net leased property is adjacent to the famous Stanford University campus. This Silicon Valley Net Leased Property sits on approximately 711 acres.
This net leased property is about 21 miles north of downtown San Jose and 31 miles south of San Francisco. This Silicon Valley Net Leased Property benefits from a location which allows easy access to the vast array of retail business, educational and cultural opportunities available at Stanford and the Bay Area. This Silicon Valley Net Leased Property is situated in area that is highly desired by NNN Commercial Real Estate investors. The Stanford Research Park was started over 50 years ago. This Silicon Valley Net Leased Property has another well known net lease tenant, the electric car manufacturer Tesla Motors Incorporated.
Skype will have a net lease on approximately 90,697 square feet at 3210 Porter Drive in Palo Alto. This net leased property has 94304 as the zip code. Skype is an Internet communication service and voice service that allows its customers to send messages and make and receive calls using their computer's Internet connection. Skype will relocate from other net lease properties in the Bay Area. Skype had a net lease located on eBay’s San Jose campus and they had a net leased Office in Brisbane, California.
Skype was originally based in Luxembourg and was founded in 2003. The net lease tenant, Skype sold to San Jose-based eBay Inc. back in 2005. Another business transaction took place last year as the Company was purchased by an investor group. The Investor Group was led by Silver Lake Partners. That deal last year had the Company valued at $2.75 billion.
We are not aware of the net leased terms with Skype. However we have seen NNN Lease at the desirable Stanford Research Park location. This Silicon Valley Net Leased Property is a Class A Property that has some units which are fully furnished, plug and play lab/office space. Some of the NNN Leased units offer Chemical storage, Eyewash & emergency showers, and suitable shipping and receiving areas. This Silicon Valley Net Leased Property also comes prepared for Tenants with an on-site cafeteria area, and an on-site gymnasium.
The Silicon Valley Net Leased Property will becomes Skype’s new North American headquarters. CresaPartners helped to manage the Office design, construction, and furniture selection process to guide Skype to a comfortable and suitable environment. CresaPartners LLC is an international corporate commercial real estate firm and they exclusively represent net lease tenants and specializes in the delivery of fully integrated commercial real estate services.
CresaPartners offers an array of integrated commercial real estate leasing services, promoting companies of all sizes—from start-ups to corporate giants, with a stronger control and leverage in their commercial real estate decisions. This corporate commercial real estate firm is headquartered in Boston and provides service in over 33 countries and more than 120 cities. The corporate commercial real estate firm CresaPartners is now recognized as the top tenant representation firm in North America.
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