Telenav, Inc has entered into a sublease agreement with Avaya Inc. to lease 54,635 square feet of office and research and development space at 4655 Great America Parkway in Santa Clara, California.
The company plans to relocate its corporate headquarters, and all employees currently based at 950 DeGuigne Dr., Sunnyvale, California, to the Great America Facility.
The lease term is for five years and one month and is expected to begin on April 1, 2016, subject to the completion of certain improvements to the facility prior to the company’s occupancy.
Providing access to Highways 101 and 237, 4655 Great America Parkway in Santa Clara is a 318,000 square foot, Class A office building built in 2002, according to LoopNet, which lists a 54,635 square foot sublease opportunity on the property’s entire upper floor through May 2021.
On October 16, 2015, Telenav entered into a lease termination agreement with its landlord for the termination of its office lease on DeGuigne Dr in Sunnyvale, California. The lease termination is to become effective on (a) March 31, 2016 with respect to 920 DeGuigne Drive and 950 DeGuigne Drive; and (b) June 30, 2016 with respect to 930 DeGuigne Drive. The lease termination agreement reduced its total operating lease obligations, net of sublease income, as of September 30, 2015 by approximately $19.3 million.