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F5 Expands Lease Agreement for Its Elliott West Site

F5 Networks, Inc. (NASDAQ: FFIV) announced today that it has extended through July 2022 its lease agreement with CLPF – Elliott West, LP, an ING Clarion Partners portfolio company. Under the terms of the amended lease agreement, F5 has the right to occupy or sublease up to approximately 300,000 square feet of office space in the Elliott West project (buildings 351, 401, and 501 on Elliott Avenue West in Seattle). Elliot West is managed locally by Koehler & Company. F5’s initial lease agreement for the Elliott West location commenced in 2000 and encompassed 85,000 square feet. Since that time, F5 has nearly quadrupled its Seattle-based employee headcount.

“The Elliott Avenue location has worked very well for F5 as it’s close to the urban core of downtown Seattle, yet still provides a convenient, campus-like setting where many employees can bike to work, enjoy the views of Elliott Bay, and take advantage of nearby parks and amenities,” said John Rodriguez, Sr. Vice President and Chief Accounting Officer at F5 Networks. “Today’s competitive real estate market provided us with an opportunity to renegotiate our lease early to take advantage of attractive rates, while providing the owner an extended term and F5 valuable flexibility and expansion options for the future.”

About F5 Networks

F5 Networks is the global leader in Application Delivery Networking (ADN), focused on ensuring the secure, reliable, and fast delivery of applications. F5’s flexible architectural framework enables community-driven innovation that helps organizations enhance IT agility and dynamically deliver services that generate true business value. F5’s vision of unified application and data delivery offers customers an unprecedented level of choice in how they deploy ADN solutions. It redefines the management of application, server, storage, and network resources, streamlining application delivery and reducing costs. Global enterprise organizations, service and cloud providers, and Web 2.0 content providers trust F5 to keep their business moving forward. For more information, go to www.f5.com.

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