WASHINGTON, July 27 /PRNewswire-FirstCall/ -- CarrAmerica Realty
Corporation (NYSE: CRE) today announced the signing of several major leases
totaling 358,000 square feet in its Silicon Valley office building portfolio.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO )
In San Jose, CarrAmerica signed AT&T (NYSE: T) to a 76,000 square foot
lease at Corporate Technology Center located at 400 Holger Way. Also in San
Jose, Covad Communications has signed a lease representing a 47,000 square
foot expansion at Rio Robles Technology Park and Proxim Networks has signed a
lease for 74,979 square feet at Bayshore Centre.
In Sunnyvale, Trimble Navigation Ltd. (Nasdaq: TRMB) has leased 160,000
square feet at Oakmead West (138,874 square feet) and at Sunnyvale Technology
Center (21,032 square feet). Trimble Navigation is expected to occupy its new
headquarters space starting in the fourth quarter of 2005.
CarrAmerica Managing Director for Northern California, Christopher
Peatross, commented, "Demand for Class A office space in the Bay Area has been
increasing in 2005 and the growth of these companies reflects true net
absorption in the market." Mr. Peatross continued, "We are continuing to see
improved lease economics within this market, particularly in the highly
desirable submarkets in which CarrAmerica concentrates its efforts. It
certainly appears that the Class A market has turned the corner." In Northern
California, CarrAmerica owns, directly or through joint ventures, interests in
85 office and R&D buildings containing approximately 6.3 million square feet.
CarrAmerica extends its appreciation to the following brokers for their
participation in these transactions:
Transaction Tenant Broker Listing Broker
AT&T Ron Kilby Gregg von Thaden
CB Richard Ellis, Inc. Don Reimann
Colliers International
Covad Scott Churchley Mike Rosendin
Communications Sharon Barrett Craig Fordyce
Liberty Greenfield Colliers International
Scott Prosser
CB Richard Ellis, Inc.
Trimble Navigation Bill Baldwin N/A
Liberty Greenfield
John McMahon
Colliers International
CarrAmerica owns, develops and operates office properties in 12 markets
throughout the United States. The company has become one of America's leading
office workplace companies by meeting the rapidly changing needs of its
customers with superior service, a large portfolio of quality office
properties and extraordinary development capabilities. Currently, CarrAmerica
and its affiliates own, directly or through joint ventures, interests in a
portfolio of 290 operating office properties, totaling approximately 27
million square feet. CarrAmerica's markets include Austin, Chicago, Dallas,
Denver, Los Angeles, Orange County, Portland, Salt Lake City, San Diego, San
Francisco Bay Area, Seattle and metropolitan Washington, D.C. For additional
information on CarrAmerica, including space availability, visit our web site
at http://www.carramerica.com.
SOURCE CarrAmerica Realty Corporation
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