PalmOne agreed with Philips to sublease 287,684-sq.-ft. in Sunnyv...
PalmOne agreed with Philips to sublease 287,684-sq.-ft. in Sunnyvale, Cal., as PalmOne’s new hq. PalmOne, which has a 3-year lease for 153,274 sq. ft. in Milpitas, Cal., that expires this year, signed a 5-year, 11-month pact with Philips that…
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starts July 1, according to an SEC filing. The agreement calls for a base rent of $21.85 million over the life of the sublease, plus insurance and maintenance costs, the documents state. The pact is subject to approval by building owner Crossroads Land Co. The space has been vacant since Philips dissolved its Sunnyvale-based components division in 2002. The division -- formerly responsible for LCoS, OLEDs and LCDs -- had moved to Sunnyvale from the Netherlands in 1999. Palm’s new location will bring it into the same city its former software division, PalmSource, has its hq. The company split into separate publicly traded firms in 2003. Meanwhile, Chip maker Broadcom, which is a supplier for EchoStar’s satellite receivers, will move its Irvine, Cal., hq to a new, larger location in a $183-million, 10-year lease with the Irvine Co., the companies said. Broadcom agreed to rent almost 700,000-sq.-ft. in 8 office buildings that Irvine will build the next 2 years near the U. of Cal.-Irvine. The new location involves an expansion of about 200,000-sq.-ft. and the addition of about 150 employees, a Broadcom spokesman said. The company has about 1,150 workers, about 60% of them engineers, at 2 Irvine campuses now. Broadcom had less than 500 employees in 2000.