Palo Alto Networks extends Santa Clara HQ leases through 2040, locks in ~940K sq ft

Filed April 13, 2026 · Period ending April 8, 2026 · ~1 min read

Key Changes

• medium

  Extended leases on four buildings totaling ~940K sq ft at Santa Clara headquarters through July 2040, with options for two additional 6-year periods. Represents long-term commitment to existing campus footprint.

  Item 1.01 verify on EDGAR →
• medium

  Negotiated 12-month rent abatement starting August 2028, followed by $3.825/sq ft monthly base rent with 2% annual increases. Translates to ~$43M annual rent after abatement period.

  Item 1.01 verify on EDGAR →
• medium

  Secured $72.50/sq ft tenant improvement allowance from landlord, totaling ~$68M for facility upgrades and customization without upfront capital expenditure.

  Item 1.01 verify on EDGAR →