Juniper Networks Builds Campus to Accommodate Rapid Growth
New Worldwide Headquarters Demonstrates Company's Commitment to Silicon Valley
Sunnyvale, CA - July 13, 2000 — Juniper Networks, Inc. (Nasdaq:JNPR), a leading provider of next-generation IP infrastructure systems, today announced its new corporate headquarters in Sunnyvale, California. The 144,000 square foot building will allow Juniper Networks to consolidate all Bay Area operations into one location. The new building has 15,000 square feet of R & D space, a customer briefing center, plus a new Knowledge Center to teach staff, customers, and partners about Juniper Networks systems.
The headquarters office is the first of a series of leased buildings in a campus environment that Juniper Networks will occupy during the next three years. Combined, the buildings will total close to 400,000 square feet, accommodating approximately 1,700 employees.
In addition, Juniper Networks has entered into a purchase contract for approximately 80 acres of land from Lockheed Martin Corporation adjacent to its Sunnyvale campus to allow Juniper Networks to continue its expansion. The parcel is the largest single lot of commercial-use land in Sunnyvale, California.
"Planning and controlling real estate availability for our expansion is a strategic advantage, especially in an area like Silicon Valley where land is scarce and costs tend to escalate," said Mike Bangs, Director of Facilities at Juniper Networks.
Juniper Networks has partnered with Menlo Equities of Palo Alto, CA, in the purchase, development and management of the property. Menlo Equities is a leading private real estate investment and development firm focused on developing, owning and operating technology property in Northern California's Silicon Valley, Orange County, and North San Diego County.
"We believe there is a significant growth opportunity in the IP infrastructure market," said Scott Kriens, CEO of Juniper Networks. "This property, which is in the heart of Silicon Valley, gives us the ability to expand and attract the prime talent in this community as we continue to grow," Kriens said.
In addition to the new office space at the Sunnyvale, California location, Juniper Networks has also leased 15,000 square feet of office space in Waltham, Massachusetts, to accommodate engineering and sales employees, and customer service and support centers.
About Juniper Networks, Inc.
Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's purpose-built systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing teams, and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California. For more information, please visit our Web site at http://www.juniper.net.
Juniper Networks is a registered trademark of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners.