Walmart Inks 338,000-SF Lease at Sunnyvale’s Tech Corners in Silicon Valley’s Largest Office Deal Since 2023
Walmart has signed a 338,000-square-foot lease at Tech Corners, a Sunnyvale, Calif., office campus owned by Jay Paul Company. The deal, covering two buildings, is the largest new office lease in Silicon Valley since 2023.
Located at 803 and 815 11th Ave in Moffett Park, the 957,200-square-foot campus recently underwent a $30 million upgrade, adding fitness and wellness amenities, outdoor green space, and nearly 23,000 square feet of planned retail.
“We are excited to welcome Walmart Inc. to the Jay Paul portfolio and to join our other marquee tenants we value,” said Janette D’Elia, CEO with Jay Paul Co. “We look forward to supporting their continued growth in this vibrant, wellness-focused campus.”
The lease will support Walmart’s e-commerce and technology teams, expanding its Bay Area presence at a time when many large tech tenants are pulling back on office space.
Newmark’s Phil Mahoney and Mike Saign represented Jay Paul Co. in the transaction, while Colliers acted on behalf of Walmart.
Across the region, office fundamentals remain challenging: Per CommercialEdge data, the Bay Area posted a vacancy rate of 25.6% at the end of April with just 480,000 square feet of space under construction — one of the smallest pipelines among major U.S. metros. Still, asking rents remain elevated at $52.40 per square foot, which is second only to San Francisco in the West.
Tech Corners has previously housed major tenants such as Ariba, Google and Amazon. Its location near light rail, Caltrain, and Highway 101 continues to attract large-scale users looking for access to talent and infrastructure. The property also holds both LEED Platinum and Gold certifications with more than 25% of the site dedicated to outdoor amenities, including sport courts and gathering spaces.
Walmart’s commitment adds to a recent wave of selective expansion from high-growth, innovation-focused firms. Notably, in April, Applied Intuition — an autonomy software company — leased more than 219,000 square feet across multiple buildings in Sunnyvale. Similarly, earlier this month, Amazon added 141,000 square feet to its Silicon Valley footprint through a WeWork-managed space in Santa Clara, Calif.