An unusually high number of sublease space is available on Santa Clara’s Great America Corridor, according to a September report from Newmark Cornish & Carey Research.
Around 750,000 square feet is available on the corridor between Highway 101 and California State Route 237.
“It’s changing what was a fairly tight market … to one that has a substantial amount of availability,” said Phil Mahoney, vice president of Newmark.
Addresses with the most sublease space include 4401 Great America Pkwy., which has as much as 301,000 square feet available and is leased by Palo Alto Networks, and 4880 Great America Pkwy., leased by Citrix with 171,000 square feet available.
Palo Alto Networks signed huge lease deals in the last year that could explain it’s available sublease space. In May, the company signed a 752,000-square-foot lease for three office buildings and in October 2015 they signed a 310,000-square-foot lease.
Other addresses with space available as of September include 397 Freedom Circle, 4555 Great America Pkwy., 2929 Patrick Henry Dr., 5200 Great America Pkwy. and 6100 America Center Dr.