Archer Aviation, a company focused on flying electric vehicles, has signed a lease for a 105,000-square-foot office building at 10 West Tasman Dr. This building, previously involved in a foreclosure with an estimated value of $23.7 million, reflects a broader trend of increased interest in scouting for new office spaces due to attractive rents in a weakened market. Archer now operates several hubs in north San Jose and has plans for an urban air mobility network in the Bay Area, featuring electric-powered air taxis in multiple cities.
Archer Aviation has leased a 105,000-square-foot building at 10 West Tasman Dr., marking a fresh expansion for the maker of flying electric vehicles.
The lender's estimated value was 53.8% below the property's assessed value as of January 2024, placing a value on the office building of $23.7 million.
Tenants in the South Bay have become increasingly eager to scout for new office locations due to the relatively attractive rents in a weakened market.
Archer's planned urban air mobility network features takeoff and landing locations in South San Francisco, Napa, San Jose, Oakland and Livermore.
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