Alibaba Group, a China-based technology behemoth, has struck a deal for a big office building in Sunnyvale.
The e-commerce, Internet, tech and retail titan has agreed to a rental deal that will enable it to lease 166,000 square feet at 525 Almanor Ave. in Sunnyvale, according to several sources with knowledge of the transaction.
“Developers are upgrading a lot of buildings in this area,” said Chad Leiker, a first vice president with Kidder Mathews, a commercial realty brokerage. “You have the big project nearby that Irvine is doing. That’s attracted Proofpoint as a tenant. A lot of the buildings here are old and they are being replaced by new buildings.”
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