Although Airbnb had signed the lease with plans to move into the space in 2021, the company never took occupancy. At the time of the lease signing, Airbnb had expressed excitement about establishing a permanent base in the South Bay, highlighting its commitment to supporting local economic development and job creation. However, by 2022, the company had shifted direction dramatically. Citing its newly implemented “live and work anywhere” policy, Airbnb listed the entire complex for sublease. This policy allowed employees to work remotely from virtually any location worldwide, which reduced the company’s reliance on traditional office space and made the Santa Clara campus redundant.
The recent sublease agreement with Zscaler, effective April 29, 2025, comes after the property remained vacant for several years. According to filings with the U.S. Securities and Exchange Commission, the sublease is subject to landlord approval and will run from September 2026 through April 2032. Zscaler’s total base rent over the term is estimated at approximately $69.5 million. In addition to rent, the cybersecurity firm will be responsible for operating costs and other related expenses throughout the duration of the lease.
This move signals Zscaler’s commitment to anchoring its presence in the Bay Area with a sizable and permanent South Bay headquarters. The company, which has seen significant growth in recent years as global demand for cybersecurity solutions expands, is strategically positioning itself with a large physical footprint that could support hybrid operations or eventual growth in on-site staffing.
Meanwhile, Airbnb’s decision to exit the space underscores ongoing trends in the tech industry, where many companies continue to reevaluate their real estate needs in the wake of widespread adoption of remote and hybrid work models. Though originally part of a long-term expansion plan, Airbnb’s withdrawal from the Santa Clara location exemplifies a broader downsizing of office space across Silicon Valley, particularly among companies prioritizing workplace flexibility.
The Great America Parkway location remains highly desirable for businesses seeking top-tier office infrastructure in a key commercial corridor. The campus’s modern layout and accessibility make it well-suited for companies like Zscaler that are scaling operations while maintaining a presence in a prestigious tech hub.
As the commercial real estate market continues to adapt, this sublease could signal a turning point for large-scale office reactivations in the Bay Area. Zscaler’s investment reaffirms that despite trends in remote work, physical offices remain an important asset for growing companies that require collaborative space, infrastructure, and visibility in competitive markets.
The deal also suggests that while some companies are scaling back, others are strategically stepping in to capitalize on premium locations made available through shifting workplace trends. With Zscaler now committed to the space, the once-vacant twin-building campus on Great America Parkway may soon become a vibrant tech hub once again.
