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Walmart Signs 338307 SF Lease At Tech Corners In Sunnyvale With Landlord Jay Paul Company

Property Image
LEASED
Philip (Phil) Mahoney
Michael (Mike) Saign
DM

California

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Office338,307 SF
Leased 06/09/2025
the dealplayerscompscontact
Property Image
LEASED

Walmart Signs 338307 SF Lease At Tech Corners In Sunnyvale With Landlord Jay Paul Company

815 Eleventh Ave

See Similar Deals
Office338,307 SF
Leased 06/09/2025
Philip (Phil) Mahoney
Michael (Mike) Saign
DM
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:338,307 SF
Transaction Type:Lease

The transaction involves an office asset located at 803-815 11th Avenue in Sunnyvale. The total square footage of the property is 338,307 square feet. This lease marks the largest new office lease in Silicon Valley since 2023.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Landlord: Jay Paul
  • Landlord Agency: Jay Paul Co.
  • Tenant: Doug McMillon
  • Tenant Company: Walmart
  • Brokers: Philip Mahoney & Michael Saign
  • Broker Agency: Newmark

Walmart's e-commerce division has expanded its operations by signing the lease at an amenity-rich campus totaling 957,204 square feet, representing a significant growth in their presence within the area.

Players

Philip (Phil) Mahoney
Newmark
Philip Mahoney
3 deals$325M volume
BROKER
Michael (Mike) Saign
Newmark
Michael Saign
3 deals$325M volume
BROKER
Newmark
Newmark
BROKERAGE
DM
Doug McMillon
4 deals$146.5M volume
TENANT
W
Walmart
TENANT

Details

LEASED
IMAGE: Doug McMillon, Philip Mahoney & Michael Saign DATE: 06/09/2025 ADDRESS: 803-815 11th Avenue MARKET: Sunnyvale ASSET TYPE: Office ~ SF: 338,307 LANDLORD: Jay Paul - Jay Paul Co. TENANT: Doug McMillon (@DougMcMillon) - Walmart (@Walmart) BROKERS: Philip Mahoney & Michael Saign - Newmark (@Newmark) NOTE: Walmart’s e-commerce division signed a 338,307-sf lease at Tech Corners in Sunnyvale, marking Silicon Valley’s largest new office lease since 2023. Newmark represented owner Jay Paul Company in the deal, expanding Walmart’s footprint at the 957,204-sf, amenity-rich campus.

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Deal Type
Effective Rent (Annual)

$19,391,553.09

Total Lease Value

$193,915,530.91

Net Landlord Cash Flow$19,391,553.09