Twitter has established its first presence in the South Bay
by leasing an office in downtown Sunnyvale, and real estate agents said Thursday
that it may expand its local operations further.
The San Francisco-based microblogging service has leased 8,000 square feet near
the Caltrain station in Sunnyvale, according to brokers with Colliers
International who arranged the deal.
"This is a big deal for this area -- a tech company from San Francisco opening
an office in Silicon Valley," said Colliers broker Kevin Moul.
A number of high-profile companies have agreed to lease large blocks of space in
Sunnyvale over the last several months,
including Apple (AAPL), Google (GOOG), LinkedIn and Amazon unit Lab 126.
"Twitter bypassed Mountain View and Palo Alto, even though there are blocks of
space the same size as this lease, because we do offer the ability to expand at
our location," said David Sandlin, a senior vice president with Colliers.
"Twitter is on a high growth curve."
The new Twitter office would have about 40 to 50 employees, based on the size of
the
Twitter lease and the typical allowance for employees per square foot of space.
"We're excited that Twitter chose Sunnyvale," said Connie Verceles, Sunnyvale's
economic development manager. "This is definitely a company with high name
recognition."
Twitter did not immediately respond to a request for comment, but the social
networking company was attracted to the site because of the Caltrain station,
the downtown amenities and the potential for expansion, according to Colliers.
When Twitter will open the office is unknown, but the property owner, Principal
Real Estate Investors, is making improvements in preparation.
Principal also is constructing a 107,000-square-foot office building next to the
building where Twitter will have its new offices. Plus, Principal and its
partner in the project, Legacy Partners, are eyeing the potential for developing
1 million square feet at that site.
"Getting high-growth, really cool technology companies into the project is
something we've been working to do," Sandlin said.
City officials say they believe the influx of tech companies into Sunnyvale will
bolster the local economy.
"This and other deals mean new employees who will visit our shops, and dine in
our restaurants," Verceles said.
___
(c)2013 the Contra Costa Times (Walnut Creek, Calif.)
Visit the Contra Costa Times (Walnut Creek, Calif.) at www.contracostatimes.com
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News Column
Twitter Opens Sunnyvale Office
May 10, 2013
George Avalos
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Source: Copyright Contra Costa Times (Walnut Creek, CA) 2013
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