American data storage hardware and software company Pure Storage will stay headquartered in Silicon Valley but move from Mountain View to Santa Clara, California, in a deal that received a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
This deal represents Santa Clara's viability as a desirable office market in Silicon Valley, according to one of the contest judges.
Retaining tech companies and talent in the region is a priority for many brokers trying to fill office space. In this deal, Pure Storage leased 333,793 square feet of Class A space across one full building and a portion of a second.
The publicly traded tech company's previous headquarters in Mountain View employed 1,200 employees in 250,000 square feet of space. Principals saw the fully furnished, built-out space at Santa Clara Square as an opportunity to grow while staying in Silicon Valley.
About the project: The lease closed in June 2022.
What the judges said: Judges lauded brokers and landlords in the region who are offering fully furnished, turnkey office space to tenants as committed to retaining technology companies in Silicon Valley.
They made it happen: Todd Beatty, director of brokerage; Steve Horton, executive vice chairman; Kelly Yoder, director; and Carrick Young, senior associate, all of Cushman & Wakefield in San Jose, California.