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9/22/17
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DLA Piper has renewed the 119k sf that it currently occupies at University Circle, located at 2000 University Ave in East Palo Alto, through June 2023. The renewal, which will be effective upon the expiration of DLA Piper’s current lease in June 2018, will keep the 451k sf University Circle office complex nearly 100% leased.
DLA Piper has been a significant tenant for University Circle since Columbia Property Trust Inc acquired the office portion of the complex in 2005 and is one of several significant law firms housed there, along with leading technology tenants such as Amazon Web Services and NTT Innovation Institute.
The University Circle campus includes three office buildings completed in 2003, in which Columbia owns a majority interest, and the Four Seasons Hotel Silicon Valley, which is under separate ownership. Columbia is currently undertaking an enhancement of the campus’s central courtyard to create a more collaborative and entertaining communal space, which should be ready for tenants to enjoy later this year.
Mike Courson, Howie Dallmar and Christian Prelle with Newmark Cornish & Carey represented Columbia Property Trust in the deal. George Fox, Ham Southworth and Robert Copito with CBRE repped the tenant. Terms of the transaction were not released.
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