Momentus adds San Jose building space with sublease from QuantumScape

"SAN JOSE Momentus has struck a deal to sublease a big chunk of research and office space in San Jose from QuantumScape Battery in a deal that is poised to alter the respective South Bay footprints of each company. The sublease involves the entire building at 1762 Automation Parkway in north San Jose, according to a regulatory document that QuantumScape Battery, a unit of QuantumScape Corp., filed with the Securities and Exchange Commission."

"The building that QuantumScape has agreed to sublease to Momentus totals 61,100 square feet, the regulatory filing with the SEC shows. QuantumScape, a creator of advanced battery technologies, and Momentus, a commercial space company whose products include low-orbit vehicles, both have established their corporate headquarters in north San Jose. Momentus has its headquarters at 3901 North First St. in San Jose. QuantumScape's headquarters are at 1730 Automation Parkway in San Jose."

"Momentus will likely begin occupying the building sometime in 2026. The rental agreement for the building where Momentus will set up shop is slated to expire in September 2032, according to the QuantumScape filing with the SEC. QuantumScape began leasing the building in late 2021 under a rental agreement that it had struck with the building's owner, an affiliate of Peninsula Land & Capital, according to the SEC filings and a market report prepared at that time by Colliers, a commercial real estate firm."

Momentus will sublease the entire 61,100-square-foot building at 1762 Automation Parkway in north San Jose from QuantumScape Battery. The sublease is slated to begin occupancy in 2026 and the rental agreement runs through September 2032. QuantumScape began leasing the building in late 2021 from an affiliate of Peninsula Land & Capital. QuantumScape is focusing on developing battery technologies that it licenses to auto industry partners such as Volkswagen's battery manufacturing arm. The sublease aligns with a smaller operational footprint for QuantumScape. Momentus currently maintains headquarters at 3901 North First Street; QuantumScape's headquarters are at 1730 Automation Parkway. It is unclear whether Momentus will retain its North First Street headquarters after the sublease begins.

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