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Walmart Subleases Mark Zuckerberg's Sunnyvale Office Campus For Tech Expansion
LEASED
California
See Similar DealsOffice2,880,000 SF
Leased 11/09/2023
LEASED
Walmart Subleases Mark Zuckerberg's Sunnyvale Office Campus For Tech Expansion
1275 Crossman Ave, 1345 Crossman Avenue, 1375 Crossman Avenue & 1395 Crossman Avenue
See Similar DealsOffice2,880,000 SF
Leased 11/09/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:2,880,000 SF
Transaction Type:Lease
Walmart Inc. is set to sublease Meta Platforms Inc.'s never-occupied Moffett Green office campus in Sunnyvale. The campus is comprised of four buildings with a total of 720,000 square feet of space. This move marks Walmart's significant entry into Silicon Valley's office market. However, specific details about the sublease, including the price and duration, have not been disclosed.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not disclosed
- Square Footage: 720,000
- Address: 1275, 1345, 1375 & 1395 Crossman Avenue
- Market: Sunnyvale
Mark Zuckerberg, the CEO of Meta Platforms Inc., represents the landlord in this deal. Doug McMillon, the CEO of Walmart Inc., represents the tenant. This sublease allows Walmart Inc. to establish a presence in the Silicon Valley office market, further expanding their operations in the technology industry.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$165,079,862.09
Total Lease Value
$1,650,798,620.85
Net Landlord Cash Flow$165,079,862.09
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