UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

        Date of report (date of earliest event reported): August 20, 2007

                          MISSION WEST PROPERTIES, INC.
             (Exact name of registrant as specified in its charter)

           Maryland                                                95-2635431
           --------              Commission File Number:           ----------
(State or other jurisdiction            1-8383                  (I.R.S. Employer
       of incorporation)                                         Identification)


                    10050 Bandley Drive, Cupertino, CA 95014
                    (Address of principal executive offices)

                                 (408) 725-0700
              (Registrant's telephone number, including area code)

     Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
           following provisions (see General Instruction A.2. below):

[  ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)
[  ] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)
[  ] Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CFR 240.13e-4(c))


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ITEM 8.01. OTHER EVENTS.

On August 20, 2007,  the Company  issued a press  release  announcing  the lease
termination  of one of its  tenants,  Ciena  Corporation.  The press  release is
attached to this Current Report as Exhibit 99.1 and is incorporated by reference
in response to Item 8.01 of this report.



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                                    SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.




                                          MISSION WEST PROPERTIES, INC.

Date: August 20, 2007                     By: /s/ Wayne N. Pham
                                             -----------------------------------
                                             Wayne N. Pham
                                             Vice President of Finance and
                                             Controller

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Exhibit 99.1


                                                               Press Release

For Immediate News Release
August 20, 2007


         MISSION WEST PROPERTIES RELEASES CIENA FROM LEASE OBLIGATIONS.
      THIS WILL RESULT IN A ONE TIME NET INCREASE IN GAAP REVENUE OF $0.45
                       PER SHARE IN THIRD QUARTER OF 2007

  "We build the buildings for the high tech companies that build the internet"

Cupertino, CA - Mission West Properties, Inc. (AMEX: MSW) reported today that on
August 15, 2007,  one of the Company's  tenants,  Ciena  Corporation  ("Ciena"),
completed an assignment and  restructuring  of lease agreement with an unrelated
party, M&M Real Estate Control & Restructuring,  LLC ("M&M"), in connection with
a lease for approximately 445,000 rentable square feet in five buildings located
in San Jose, California.  M&M assumed all of Ciena's remaining obligations under
the  restructured  lease  effective  July 1, 2007  (including  the obligation to
complete certain leasehold improvements),  acquired certain personal property of
Ciena  located  on  the  premises  and  received  a  payment  of   approximately
$53,000,000. At the same time, the Company entered into a consent for assignment
of lease with both parties and a mutual release  agreement with Ciena,  pursuant
to which all of the Ciena's  obligations  under the lease have been  effectively
transferred  to M&M.  M&M  must  continue  to  perform  all of the  restructured
obligations  under the assumed  Ciena lease and has the right to sublease any or
all of the 445,000  rentable square feet through June 30, 2011 on terms that are
acceptable  to the Company.  Based upon the  provisions  of FIN 46R, the Company
determined  that  M&M  is  a  variable  interest  entity.  The  Company  further
determined that the Company is the primary beneficiary of this variable interest
entity and  therefore  will  consolidate  this entity under  generally  accepted
accounting  principles  ("GAAP").  During the third  quarter,  the Company  will
recognize  for GAAP  purposes,  a net  lease  termination  fee of  approximately
$45,357,000.  In addition, in connection with the FIN 46R accounting the Company
will record  restricted  cash for the balance of the rental  obligation due from
M&M and a liability of $7,000,000 related to M&M's obligation under the terms of
the lease to complete certain leasehold improvements in two buildings consisting
of approximately  164,000 square feet of unimproved  space. On a GAAP basis this
transaction  will result in a reduction  of quarterly  revenue of  approximately
$.03 per quarter until June 30, 2011 or until the buildings are subleased.

Company Profile

Mission West Properties, Inc. operates as a self-managed,  self-administered and
fully integrated REIT engaged in the management, leasing, marketing, development
and acquisition of commercial R&D properties,  primarily  located in the Silicon
Valley portion of the San Francisco Bay Area. Currently, the Company manages 110
properties  totaling  approximately  7.8 million  rentable  square  feet,  which
includes  approximately  894,000 rentable square feet (or 17 buildings) that are
in the process of being  rezoned for  residential  development.  For  additional
information, please contact Investor Relations at 408-725-0700.

The matters described herein contain forward-looking statements. Such statements
can be  identified  by the use of  forward-looking  terminology  such as "will,"
"anticipate," "estimate," "expect," "intends," or similar words. Forward-looking
statements involve a number of risks,  uncertainties or other factors beyond the
Company's  control,  which may cause  material  differences  in actual  results,
performance or other  expectations.  These factors include,  but are not limited
to, the ability to complete  acquisitions  under the Berg Land  Holdings  Option
Agreement  with the Berg  Group  and other  factors  detailed  in the  Company's
registration  statements,  and periodic  filings with the  Securities & Exchange
Commission.

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