Ericsson Inks Year's Biggest Lease In Silicon Valley

Old-school company makes biggest office move of 2014 (so far)

Santa Clara is going Swedish.

The Nordic mobile phone and telecom giant Ericsson has signed the biggest "high-end office lease" in Silicon Valley so far this year, according to the Silicon Valley Business Journal.

Up to 2,000 workers could be employed at the company's offices at the still-being-built Santa Clara Square, the newspaper reported, which is owned by the Irvine Company. 

The company already has 300,000 square feet of space in San Jose, according to the newspaper, which it plans to vacate.

Real estate observers say that the market will be buoyed by the news, as the leasing market for "Class A office leases" was "lackluster" through the first quarter of 2014, the newspaper reported.

Copyright FREEL - NBC Local Media
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