"OpenAI has officially signed a rental agreement to occupy office buildings at 350 and 380 Ellis St. in Mountain View, according to documents filed on Feb. 25 with the Santa Clara County Recorder's Office. The buildings together total roughly 439,000 square feet, according to the Property Shark commercial real estate database."
"OpenAI leased the office buildings for 10 years, the county real estate records show. The lease agreement also allows for two extensions of the original lease. Each extension would be for a period of six years."
"This decision by OpenAI to make this big move will open the way for more AI companies to expand in Silicon Valley rather than in San Francisco, said David Sandlin, an executive vice president with Colliers, a commercial real estate firm."
"OpenAI obtained a right of first refusal to purchase the buildings, the real estate documents show. The filing didn't reveal additional details of the company's right to become an owner of the site."
OpenAI has signed a 10-year lease for two office buildings in Mountain View totaling approximately 439,000 square feet, with capacity for several hundred employees. The 350 Ellis Street building comprises 264,700 square feet while 380 Ellis Street contains 184,300 square feet, each spanning three stories. The lease agreement includes two optional six-year extensions and grants OpenAI a right of first refusal to purchase the properties. Newmark commercial real estate brokerage handled the leasing efforts. Industry experts suggest this move will encourage additional AI companies to establish operations in Silicon Valley rather than San Francisco, strengthening the region's position as a technology hub.
#openai-expansion #silicon-valley-real-estate #ai-industry-growth #commercial-leasing #mountain-view-office-hub
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